Automotive & EV
Automotive & EV
India’s automotive industry remains one of the world’s largest and fastest-growing mobility markets, contributing approximately 7.1% to the country’s GDP and nearly 49% of manufacturing GDP. As the fourth-largest automobile producer globally, India manufactured over 28 million vehicles in FY24 and continues to attract significant domestic and foreign investment.
The electric vehicle (EV) ecosystem is emerging as a key growth driver, supported by government initiatives, expanding charging infrastructure, declining battery costs, and rising consumer adoption. India’s EV market is projected to grow at a CAGR of over 40% through 2030, with strong momentum across two-wheelers, passenger vehicles, and commercial fleets. The government aims to achieve significant EV penetration by 2030, creating substantial opportunities across vehicle manufacturing, battery production, charging infrastructure, energy storage, and mobility services.

