India, April 11 -- NITI Aayog has released an insightful report titled "Automotive Industry: Powering India's Participation in Global Value Chains". The report was launched by Shri Suman Bery, Vice Chairman, NITI Aayog in presence of Dr. V.K. Saraswat, Member, NITI Aayog, Dr. Arvind Virmani, Member, NITI Aayog and Shri BVR Subrahmanyam, CEO, NITI Aayog. This report offers an extensive analysis of India's automotive sector, highlighting both opportunities and challenges, and outlining a pathway for positioning India as a key player in global automotive markets.
Global and Indian Automotive Landscape
In 2023, global automobile production reached approximately 94 million units. The global automotive components market was valued at USD 2 trill...