Britain - the largest automobile export market of India
Britain has proved to be the largest automobile export market of India. In this market, the Indian auto industry has sold the passenger vehicles which are worth $481 million in the period 2009-10. The Federation of Indian Chambers of Commerce and Industry (FICCI) said that their automobile exports to UK have raised by around 8 times in the past 4 years from $52 million in the period 2006-07 to $481 million in 2009-10.
In 2009-10, Italy, the second largest export market with $433.77 million is followed by Germany, the Netherlands and South Africa at $233.22 million, $217.51 million and $209.95 million respectively. As per FICCI, passenger vehicles made a big part of India’s total automobile exports. About 76 percent of India's automobile exports consist of passenger vehicle. The next significant category of the automobile exports is two wheelers. The compounded annual growth rate, that is, the CAGR of both passenger vehicle and two wheeler exports is 31 percent and 24 percent for the past 5 years.
Singapore has came out as the top most destination in the commercial vehicle exports of India. On the other hand, United States has emerged as the largest tractor export market. Nepal is also doing well and emerging as a significant market in this segment. USA remains the single biggest export destination for the tractors of India.
Read More on : Mahindra Scorpio 2013