Piyush Goyal urges carmakers to boost exports to $1 trillion
Business
India wants to hit $1 trillion in exports this year (up from $863 billion last year), and the auto industry is front and center in that plan.
At the SIAM Annual Convention, Commerce Minister Piyush Goyal encouraged carmakers to boost local production, scale up manufacturing, and look beyond India for new markets.
Goyal advocates domestic parts and partnerships
Goyal laid out a two-part strategy: first, make more parts at home, especially things like rare earths and batteries, to rely less on imports; second, use new trade agreements and international partnerships to send more cars abroad and bring technology into India.
He also emphasized investing in R&D and growing big automotive clusters with government support so India can become a true export powerhouse.