According to Buntee Parnichprapai, Secretary to the Commerce Minister, the value of automobile sales in India in June grew by 10% compared to the same period in the previous year.
Three-wheeled vehicles topped the list at 75%, tractors at 41%, motorcycles at 7%, personal passenger vehicles at 5%, and commercial vehicles at 0.5%. India is unable to produce sufficient automotive components to meet domestic demand.
The Indian automobile market is growing, and Thailand is one of the most consistent exporters of vehicles, benefiting from tax incentives under the Thailand-India FTA and the ASEAN-India FTA, Buntee said.
Thai vehicle component exporters should establish product and service strengths that cater to market demands, potentially collaborating with importers to increase market share in India’s future automotive market and creating opportunities for continued financial gain, he…
