India's auto exports hit record high

According to the Society of Indian Automobile Manufacturers (SIAM), India's automobile exports reached 5,363,089 units in fiscal year 2024/25, up 19.2% year-on-year, a record high. Among them, 770,364 passenger cars were exported, two-wheeled motorcycle exports exceeded 4 million for the first time, and 310,000 three-wheeled vehicles were exported. India is the world's third largest automobile consumer market, but its market is strictly protected, with a 70% tariff on imported cars below $40,000 and a 100% tariff on cars above $40,000.