India's automotive industry is a global powerhouse, ranking fourth in production and valuation in 2022. It further ascended to the third-largest automobile market worldwide in 2023. With a valuation exceeding US$100 billion in April 2022, the sector contributes significantly to India's economy, accounting for 8% of exports and 7.1% of GDP.

The industry produced 28.43 million vehicles in FY24, including passenger cars, commercial vehicles, three-wheelers, two-wheelers, and quadricycles. India is a global leader in heavy vehicles, ranking first in tractor manufacturing, second in bus production, and third in heavy truck production.