India is now the fifth largest automobile (passenger car) market in the world. In addition, India ranks seventh as a manufacturer of commercial vehicles and has long been the global number one in motorized two-wheelers. In total, almost 2018 million vehicles (cars, trucks, three-wheelers and two-wheelers) were produced in 2019/30.
Even though production and sales volumes briefly fell back to 19/2010 levels due to Covid-2011, few doubt that India will become the world's third largest automobile market in the coming years - with a corresponding share of electric vehicles.
In the last twenty years, foreign direct investment (FDI) amounting to almost 25 billion US dollars flowed into India, including a significant share from Germany. The German automobile and supplier industry is strongly represented in the Indian industrial regions. Some representatives also came on 1st WB India Summit to have their say - including Günter Butschek, CEO & Managing Director of Tata Motors Ltd.
Foreign investments are intended to make the Indian economy more self-sufficient
Under the keyword “Self-Reliant India” (Atmanirbhar Bharat) Foreign investors should also be increasingly motivated to bring capital and technology into the country. With 23 billion dollars In terms of public funds (benefits, stimulus, etc.), the government wants to make India a global production center - with a focus on the automotive sector - and make the country more independent of imports.
According to Butschek, the greatest business potential lies in the areas of electrical engineering and electronics, as well as tool construction and provision. In his short statement, recorded as part of the 1st WB India Summit, you will learn more about the status quo in India and the business opportunities for foreign investors.
