look news india
New Delhi: While the government is taking steps to make India a global base for vehicle manufacturing, passenger vehicle exports from the country as a percentage of production in 2023 were the lowest in a decade, according to a report by BNP Paribas. India's share in vehicle production for export in the Asian region was lower than that of Japan, South Korea, Thailand, Indonesia and other countries.
Only 13 per cent of the total passenger vehicles produced in the country were exported in the calendar year 2023, while this figure was 14 per cent in 2022. Before the Covid pandemic, this figure was 18 per cent in 2019.
The share of exports in total vehicle production has been the highest in 2014 at 19 percent, which is yet to be surpassed. In calendar year 2023, nearly 50 percent of the cars made in Japan were exported. South Korea exported 66 percent of total production, Thailand 61 percent and Indonesia 18 percent.
Maruti Suzuki Chairman RC Bhargava on the declining share of exports in the manufacturing sector said that India does not have large-scale manufacturing facilities to compete with companies around the world. We have mainly exported small cars and their number has increased.
The country's major car manufacturers have achieved tremendous growth in the domestic market, but their performance globally has not been very good. Their export figures are not big. The companies are satisfied with the local market.
Experts said that at one time American automobile companies had a 35 percent share in exports from India. They stopped doing business with the country, which has affected the number of vehicles exported in the last few years. But in 2023, 7,27,863 vehicles were exported from here, which is less than the 2019 export figure of 7,47,430 before the global pandemic.
