Global automakers are expanding their car exports from India to Europe based on last year’s success in Japan, marking a major shift for factories in India, that has earlier supplied to Latin America, Africa and West Asia. According to Industries and analysts, growing shipments to Europe indicate India’s rising role as a low-cost manufacturing hub.
Exports to the UK, Germany, Spain and Norway reached $63 million, just 2% of India’s car exports
Global brands such as Suzuki Motor and Honda Motor find India central to their global manufacturing plans, such as electric vehicles (EVs) as competition from Chinese brands escalates. Notably, exports to UK, Germany, Spain and Norway climbed to $63 million between April and August this year. It is only around 2 per cent of India’s total car exports. However, almost nine times higher than the last financial year. Interestingly, the growth signals strong gains last year. Car exports to Japan reached around fourfold to $813 million.
Carmakers like Suzuki plan to invest 1.3 trillion yen ($7.7 billion) by 2031 to increase the company’s India manufacturing capacity from 2.5 million to 4 million units a year. Surprisingly, the company wants to transform India into a key electric vehicle production hub. It has carried out exports of nearly 7,400 units of its first EV, the midsize eVitara, to European markets including the UK, Germany, Norway and France. Honda is also following this path. The company declared that India would serve as a manufacturing hub for one of its upcoming EVs, which will be further exported to Japan and other Asian countries.
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