India to Become the World’s Largest Automobile Manufacturer By 2027

07 Oct, 2023 Author: Ayushee Joshi

Automobile News: India is progressing rapidly and is ready to dominate the world, whether it is in the field of travel or digital India, among others. Now is the time for the automobile sector to become one among them. While attending the 27th World Road Congress in Prague, Union Road Transport and Highway Minister Nitin Gadkari stated that India will surpass China as the world’s top vehicle manufacturer by 2027. Last year, India surpassed Japan to become the world’s third-largest car market after China and the United States.

Indian Automobile Industry Boom

The Indian automobile industry has increased significantly, from Rs 4.5 lakh crore nine years ago to Rs 12.5 lakh crore now, the Union Minister stated. The Indian automobile sector is now worth over 7.5 lakh crore rupees and now employs 4.5 crore people. It provides the Central and State Governments with the largest amount of Goods and Services Tax (GST). In the following five years, the minister claimed that the Indian Automobile Market will grow by a factor of two, to reach Rs 15 lakh crore.