India’s automobile exports rise more than 35% in 2022 on the back of export initiatives

When asked in the Parliament about India’s automobile exports, Anupriya Patel, Minister of State, MoCI revealed the nation’s total automobile exports increased 35.9% in 2022. India exported 5.6 million vehicles in 2021-22, rising from 4.1 million in 2020-21. Out of this, the export of passenger vehicles, including cars, increased 42.9% in 2021-22 from 4,04,397 units in 2020-21.

Category2020-212021-22Percentage change
Passenger Vehicles4,04,3975,77,87542.90%
Commercial Vehicles50,33492,29783.40%
Three Wheelers3,93,0014,99,73027.20%
Two Wheelers32,82,78644,43,01835.30%
Source: SIAM

The minister further added that commercial vehicle exports increased more than 83% in 2021-22 from 50,334 in 2020-21 to 92,297. Interestingly, around 10 percent of the total vehicles exported were from Haryana during 2021-22.

Here’s the list of measures taken by the government to promote India’s export:

  • Extension of Foreign Trade Policy (2015-20) till March 31, 2023.
  • Interest Equalisation Scheme on pre and post-shipment rupee export credit has also been extended till March 31, 2024.
  • Assisted schemes like Trade Infrastructure for Export Scheme (TIES) and Market Access Initiatives (MAI) Scheme to promote exports.
  • Implementation of the Rebate of State and Central Levies and Taxes (RoSCTL) scheme to promote labour-oriented sector export since March 2019.
  • Implementation of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme in January 2021.
  • Sectors like pharmaceuticals, organic and inorganic chemicals and article on iron and steel have also been covered under RoDTEP starting December 2022.
  • Launch of a Common Digital Platform for Certificate of Origin to facilitate trade and increase Free Trade Agreement (FTA) utilisation by exporters.
  • Setting districts as export hubs by identifying products with export potential in each district, addressing bottlenecks for exporting these products and supporting local exporters and manufacturers to generate employment in the area.
  • Enhancing the role of Indian missions abroad to promote the country’s trade, tourism, technology and investment goals.

Leave a Reply

Your email address will not be published. Required fields are marked *