UCORP EXIM’s Post

Piyush Goyal sets $100 billion export target for auto component industry by 2030 India's auto component industry has been challenged to aim for a five-fold increase in exports, reaching $100 billion by 2030. This ambitious target was set by Piyush Goyal, Minister of Commerce and Industry, during the annual Automotive Component Manufacturers Association of India (ACMA) conference. Goyal emphasised the potential for the industry to become a key player in both domestic sales and exports, citing the sector's role as one of the largest job generators in the country. The Indian auto component sector saw a turnover of Rs 6.14 lakh crore ($74.1 billion) in 2023-24, with exports accounting for $21.2 billion and imports at $20.9 billion. The minister stressed the need for manufacturers to scale up investments in capacity, quality, and digitalisation to meet global standards and capitalise on Free Trade Agreements (FTAs). Global automakers are increasingly looking to India as a reliable, cost-effective manufacturing hub, especially as they diversify beyond China. This shift presents an opportunity for Indian manufacturers to expand their market share in exports. To achieve the $100 billion target, Goyal highlighted the need for greater localisation in the supply chain. Many Indian component makers still rely on imports for key parts such as engine components, chassis, suspension, and braking systems. If you are a fresher in the Export field. 🔥Join our Startup Export Training.  For more details. 💰 Visit www.ucorpexim.in or Contact 7598 404848 If you have basic about the Export field 🔥Join our Advanced Realtime Export Training. For more details. 💰Visit www.ucorpareto.com or Contact 7598 786858 #export #exporter #exportimport #exports #importexport #exportproduct #exportbusiness #exportbag #exportquality #exportindia #exporting #exportimportdata #eximedia #indiaexport #indiaexports #indiaexporters #indiaexportimport #indiabusiness #ucorpexim #exporttraining#exportstraining #exportertraining #exporterstraining #importtraining #importstraining #importertraining #importerstraining #ucorp

Exports play a crucial role in a country's economic development. They contribute to the national income, improve the balance of payments, and foster economic growth by creating job opportunities. June showed a significant increase in two-wheeler Indian exports from 3,01,516 units in 2023 to 3,24,908 units in 2024. This 7.8% increase highlights the growing importance of the two-wheeler industry in the export market. The Ministry Of Heavy Industries runs several schemes like PLI Auto, PLI ACC, FAME, EMPS, and Capital Goods scheme and promotes competitiveness in the industry. This demonstrates the robustness and efficiency of the domestic automobile manufacturing sector, which is capable of meeting international quality standards and demand. Higher export volumes contribute to economic growth by increasing national income and GDP, leading to more job opportunities and improved standards of living. The drive to meet diverse international market requirements by the Indian industry led by ACMA India and the Society of Indian Automobile Manufacturers (SIAM) often leads to technological advancements and innovation. #automobiles #technology

India Auto Exports Surge 15.5% in Q1: SIAM Data New Delhi, Jul 14 (PTI) Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal. Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 1,52,156 units in the same period last year. Maruti Suzuki India led the space with shipments of 69,962 units in the period under review. It exported 62,857 units in the first quarter of the 2023-24 fiscal. Hyundai Motor India exported 42,600 units in the April-June period. It had shipped 35,100 units in the same period last year. Three-wheeler shipments, however, saw a drop of 3 per cent year-on-year to 71,281 units in the April-June period this year as against 73,360 units in the year-ago period. SIAM President SIAM Vinod Aggarwal said it is a good sign for the industry that exports have started doing well. "I think that's a very good sign that exports seem to have bottomed out, especially in the commercial vehicle segment. Till last year, there was a huge drop in the export volume of trucks and buses, he added."But Q1 has been good even for two-wheelers and passenger vehicles. If you are a fresher in the Export field. 🔥Join our Startup Export Training.  For more details. 💰 Visit www.ucorpexim.in or Contact 7598 404848 If you have basic about the Export field 🔥Join our Advanced Realtime Export Training. For more details. 💰Visit www.ucorpareto.com or Contact 7598 786858 #export #exporter #exportimport #exports #importexport #exportproduct #exportbusiness #exportbag #exportquality #exportindia #exporting #exportimportdata #eximedia #indiaexport #indiaexports #indiaexporters #indiaexportimport #indiabusiness #ucorpexim #exporttraining#exportstraining #exportertraining #exporterstraining #importtraining #importstraining #importertraining #importerstraining #ucorp

In a communication to the Government of India, ATMA India has stated that automotive tyres rank at the forefront of those sectors where domestic manufacturing capabilities can render imports unnecessary. The government recently asked the industry to name items where India has the capabilities to be self-reliant so that upcoming FTAs could be drafted while safeguarding the interests of domestic industry. “Over the last few years, the tyre sector has witnessed substantial investments, by leading manufacturers allocating over Rs 35000 crore towards capacity expansion, technology upgrades, and research and development. As the new capacities go on stream, it is important to meet the demand from domestic manufacturing rather than importing tyres”, said Arnab Banerjee, Chairman of ATMA. . . #tyremanufacturers #technology #tyres #innovation #manufacturing #domestic #autocomonents #India #automotive #imports https://lnkd.in/gbV8bYq7

India Auto Exports Surge 15.5% in Q1: SIAM Data New Delhi, Jul 14 (PTI) Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data. Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal. Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 1,52,156 units in the same period last year. Maruti Suzuki India led the space with shipments of 69,962 units in the period under review. It exported 62,857 units in the first quarter of the 2023-24 fiscal. Hyundai Motor India exported 42,600 units in the April-June period. It had shipped 35,100 units in the same period last year. Three-wheeler shipments, however, saw a drop of 3 per cent year-on-year to 71,281 units in the April-June period this year as against 73,360 units in the year-ago period. SIAM President SIAM Vinod Aggarwal said it is a good sign for the industry that exports have started doing well. "I think that's a very good sign that exports seem to have bottomed out, especially in the commercial vehicle segment. Till last year, there was a huge drop in the export volume of trucks and buses, he added."But Q1 has been good even for two-wheelers and passenger vehicles. If you are a fresher in the Export field. 🔥Join our Startup Export Training.  For more details. 💰 Visit www.ucorpexim.in or Contact 7598 404848 If you have basic about the Export field 🔥Join our Advanced Realtime Export Training. For more details. 💰Visit www.ucorpareto.com or Contact 7598 786858 #export #exporter #exportimport #exports #importexport #exportproduct #exportbusiness #exportbag #exportquality #exportindia #exporting #exportimportdata #eximedia #indiaexport #indiaexports #indiaexporters #indiaexportimport #indiabusiness #ucorpexim #exporttraining#exportstraining #exportertraining #exporterstraining #importtraining #importstraining #importertraining #importerstraining #ucorp

Read the full article: https://lnkd.in/gDJThP8p ATMA stated that this response was provided to the government's request for feedback on sectors where India can achieve self-reliance. The aim is to ensure that future FTAs are developed while protecting the interests of the domestic industry. Currently, tyre manufacturers are gearing up to alter manufacturing mechanisms through an intense R&D exercise so as to meet expectations of reducing emissions, light weighting, enhancing fuel efficiency and lower rolling resistance.   By fostering domestic production and leveraging technological advancements, India can strengthen its position as a global leader in the tyre industry while generating employment, promoting sustainability, and driving economic growth. #ATMA #Tyre  

Transforming India into an Automobile Export Hub India's automobile industry is a cornerstone of the national economy, contributing 8% of the country's total exports and 7.1% of the GDP. This sector's significance is underscored by the continuous support and reforms introduced by the Government of India and the Ministry Of Heavy Industries. These initiatives have been pivotal in creating a robust ecosystem that supports the rapid growth of the automotive industry in the country. A series of policies and incentives have been launched to bolster the automotive sector, including the PLI Auto, PLI ACC, FAME and SMEC schemes. These programs aim to enhance #manufacturing capabilities, promote the adoption of #electric #vehicles, and attract foreign #investment. By focusing on technological advancements and sustainable practices, the government aims to position India as a leader in the global automotive market. As a result of these concerted efforts, the export figures for automobiles have surged significantly. In the fiscal year 2013-2014, India exported 3.1 million units, a number that has impressively risen to 4.5 million units in 2023-2024. This growth trajectory is a testament to the effectiveness of the strategic initiatives and the industry's resilience and adaptability. Despite this impressive growth, there remains significant potential for further expansion in the coming years. The global demand for vehicles, particularly in emerging markets, presents a lucrative opportunity for Indian manufacturers. The push towards electric and hybrid vehicles opens new avenues for innovation and market penetration. With continued innovation and strategic initiatives, India's automotive industry is well on its way to becoming a global export powerhouse. The focus on R & D, coupled with the adoption of cutting-edge technologies, will be crucial in maintaining this growth momentum. Fostering partnerships with international players through Society of Indian Automobile Manufacturers (SIAM) and ACMA India and investing in infrastructure will play a key role in sustaining the industry's upward trajectory.

Transforming India into an Automobile Export Hub India's automobile industry is a cornerstone of the national economy, contributing 8% of the country's total exports and 7.1% of the GDP. The Government of India and the Ministry of Heavy Industries have implemented numerous reforms in the automotive sector. These initiatives have been pivotal in creating a robust ecosystem that supports the rapid growth of the automotive industry in the country. As a result, exports have surged from 3.1 million units in 2013-2014 to 4.5 million units in 2023-2024. Despite this impressive growth, there remains significant potential for further expansion in the coming years. With continued innovation and strategic initiatives, India's automotive industry is well on its way to becoming a global export powerhouse. #AutomobileExportHub #IndianEconomy #AutomotiveIndustry #MHI #EconomicGrowth #Innovation #SustainableGrowth

Innovation significantly boosts India's automotive industry by driving advancements in autonomous vehicles, manufacturing efficiency, customer experiences, safety, and predictive maintenance. This fosters economic growth and positions India as a potential global export powerhouse in the automotive sector.

🚗 𝗜𝗻𝗱𝗶𝗮'𝘀 𝗔𝘂𝘁𝗼𝗺𝗼𝗯𝗶𝗹𝗲 𝗘𝘅𝗽𝗼𝗿𝘁𝘀 𝗦𝘂𝗿𝗴𝗲 𝗯𝘆 𝟭𝟰% 𝗶𝗻 𝗔𝗽𝗿𝗶𝗹-𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟰 🚗 The Indian 𝗮𝘂𝘁𝗼𝗺𝗼𝗯𝗶𝗹𝗲 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝘁𝗼 𝗺𝗮𝗸𝗲 𝗶𝗺𝗽𝗿𝗲𝘀𝘀𝗶𝘃𝗲 𝘀𝘁𝗿𝗶𝗱𝗲𝘀 𝗴𝗹𝗼𝗯𝗮𝗹𝗹𝘆 🚀 𝗕𝗲𝘁𝘄𝗲𝗲𝗻 𝗔𝗽𝗿𝗶𝗹 𝗮𝗻𝗱 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟰, 𝗮𝘂𝘁𝗼𝗺𝗼𝗯𝗶𝗹𝗲 𝗲𝘅𝗽𝗼𝗿𝘁𝘀 𝗳𝗿𝗼𝗺 𝗜𝗻𝗱𝗶𝗮 𝘀𝗮𝘄 𝗮 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝟭𝟰% 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲, showcasing the sector's resilience and competitiveness on the international stage. This growth, particularly 𝗶𝗻 𝗽𝗮𝘀𝘀𝗲𝗻𝗴𝗲𝗿 𝘃𝗲𝗵𝗶𝗰𝗹𝗲𝘀 𝗮𝗻𝗱 𝘁𝘄𝗼-𝘄𝗵𝗲𝗲𝗹𝗲𝗿𝘀, reflects India's robust manufacturing capabilities, improved trade policies, and the country's growing reputation as a key player in the global automotive market. As global trade professionals, it's exciting to see how strategic reforms and investments in technology are paying off, further cementing India’s position as a major export hub. #AutomobileExports #MadeInIndia #GlobalTrade #SupplyChain #AutoIndustry #ExportGrowth #Manufacturing #TradeCompliance #Exporters #FICCI #CII #Traders #Supplychain #Logistics