New Delhi, Oct 12 — India is poised to emerge as a global hub for automobile manufacturing as international carmakers increasingly expand production in the country, Union Commerce and Industry Minister Piyush Goyal said on Monday.
Addressing the 'Dilli Dialogue: Policies for a Future-Ready India' here, he said rising domestic demand, a growing manufacturing ecosystem and India's economic ambitions under the Viksit Bharat 2047 vision would position the country as a key global production base for the auto industry.
“We want to be a part of the global marketplace. Providing opportunities for people, providing opportunities for jobs, for our startups, for our youth to come up with newer ideas,” Goyal noted.
Goyal said India is pursuing a twin-track strategy of integrating with the world's best technologies while simultaneously identifying sectors with strong potential for employment generation and business growth.
Highlighting the country's trade strategy, the minister said India is actively expanding its access to international markets through free trade agreements (FTAs).
According to him, these agreements offer significant opportunities for Indian businesses across sectors such as textiles, footwear, agriculture and food processing, while also enabling access to advanced technologies and high-quality products from developed economies.
Emphasising India's approach to globalisation, Goyal said the country is not shutting itself off from the world but is opening its doors wider to international partnerships and investments.
The minister also reiterated India's ambitious economic and export goals, expressing confidence that the country can achieve a trillion-dollar export target as it works towards becoming a developed nation by 2047.
He said a detailed roadmap has been prepared to identify sectors that will drive growth over the coming decades.
Referring to India's population of 1.4 billion people, Goyal said growing demand for goods and services presents substantial opportunities for both domestic industry and global investors.
Rising demand for electronics and white goods, he noted, could accelerate investments in domestic manufacturing and semiconductor facilities.
On the automobile sector, Goyal said several global manufacturers would increasingly choose India as a production base once market demand reaches the necessary scale.