Automobiles

India becomes the world’s 4th largest vehicle market

India is expected to be the world’s third-largest automotive market in terms of volume by 2026. The industry currently manufactures 25 mn vehicles, of which 3.5 mn are exported. India holds a strong position in the international heavy vehicles arena as it is the largest tractor manufacturer, second largest bus manufacturer and third largest heavy trucks manufacturer in the world. The sector attracted $ 17.9 bn FDI between April 2000 and September 2017; accounting for 5% of the total FDI inflows.