New Delhi, Jan. 14 -- The country's top carmakers-Maruti Suzuki India Ltd, Hyundai Motor India Ltd, Mahindra and Mahindra Ltd, and Tata Motors PV Ltd-with installed capacity of 5.4 million cars, are looking to increase their capacity by up to 39% to 7.5 million cars by 2030 as they look to cash in on one of the world's fastest-growing car markets.

The capacity expansion plans come as the top carmakers prepare to launch nearly 80 new car models over the next few years, which will include new nameplates, facelifts and model upgrades to jostle for more market share in the world's third-largest automobile market.

On Monday, Maruti Suzuki announced the location of its new passenger vehicle plant with a capacity of up to 1 million units per a...