Commerce minister Piyush Goyal says India’s growing consumer market, expanding industrial base and looser cost pressures could draw more global car production to the country.
India is on course to become a major global base for car manufacturing as international automakers expand production in the country, Commerce and Industry Minister Piyush Goyal said on Monday, pointing to stronger domestic demand, a deeper industrial ecosystem and the government’s long-term growth plans under Viksit Bharat 2047.
Speaking at the “Dilli Dialogue: Policies for a Future-Ready India” in New Delhi, Goyal said India wanted to be fully embedded in the global marketplace while creating more jobs and room for start-ups and young entrepreneurs to develop new ideas. He framed that ambition as part of a wider strategy to combine access to the world’s best technologies with targeted support for industries that can generate employment and business expansion.
The minister also highlighted the government’s push to widen market access through free trade agreements, saying they could help Indian companies in sectors such as textiles, footwear, agriculture and food processing while also opening the door to advanced technology and higher-quality imports from developed economies. Goyal said India was not turning inward but was instead seeking to deepen international partnerships and attract more investment as it works towards a developed-nation goal by 2047 and a trillion-dollar export target.
In his remarks, Goyal linked that outlook to India’s large consumer base of 1.4 billion people, saying rising demand for electronics and white goods could draw more investment into domestic manufacturing and semiconductor plants. On automobiles, he said the scale of market demand would eventually make India an increasingly attractive production base for global manufacturers, with European carmakers in particular likely to look harder at the country as they face tighter regulations at home. Industry reporting has echoed his view that India is building value chains from design through to finished goods and positioning itself as a trusted node in global supply chains.
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