Indian Automobile Industry Valuation in 2022-23

As per a Primus Partners study, the automobile industry produced worth Rs.8.7 lakh crore (~USD 108 billion) in 2022-23. Ashish Bhatia links it to the components business.

- Ashish Bhatia

Primus Partners Pvt. Ltd. in its latest study hailed the automobile industry for registering an "astounding employment figure". As per the study, the industry employed over 1.9 crore as a testimony to it occupying paramount importance in the economy. The study, known to be focused on both the policy perspective as well as the business perspective, was surveyed to assess the value being produced by the automobile industry. Against the backdrop of the changing dynamics of the industry led by transitions to green mobility alternatives, it highlights the green power trains, the rise of electronic components and software, autonomous driving and shared mobility. The report stresses the need to understand the value, the as-is landscape and the change in the offing. Claimed to be a ground-up study, it ascertains the value of the Indian automobile industry and key segments where suppliers play an active role. Drawing attention to the report titled 'India's Automobile Industry Is Valued at Rs.8.7 lakh crore', Anurag Singh, Managing Director, Primus Partners India, said, "Our ground-up study on Automobile industry value is leading to a lot of insights, for example, the Indian market is bypassing the lower priced products and more value is being created in feature-rich higher priced vehicles. We believe that the value growth is happening faster than volume growth."