India: Automobile exports register strong growth

Exports of various automobile manufacturers from India have surpassed domestic sales during FY 2015-16. With Ford Motor Company, General Motors, Nissan Motor Company and Volkswagen AG exporting more vehicles than they sold in the country in FY 2015-16, India has established its presence as a strong automobile hub across the world. India’s overall passenger vehicle exports increased 5.24 per cent during 2015-16.

In another significant development, India has surpassed its solar energy target for 2015-16, by more than one and a half times, commissioning 3018 megawatt (MW) during 2015-16 against a target of 2000 MW. The cumulative target at the end of 2016-17 is set at 17,000 MW and the country is expected to add at least 10,000 MW in 2016-17.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.