Mumbai, Sept. 7 -- Prime Minister Narendra Modi urged the Indian automobile industry to intensify innovation and pursue excellence to support a faster, greener and self-reliant future, in remarks read at the Society of Indian Automobile Manufacturers 66th annual convention. He observed the mobility sector was undergoing a fundamental transformation driven by energy efficiency, energy diversification, technology and advanced manufacturing.

He said India's rapid economic growth had increased demand for mobility and that expansion of highways and other infrastructure was facilitating the movement of people and goods. Improved connectivity and more efficient logistics were reducing costs and enhancing the competitiveness of Indian manufacturing, while removal of redundant laws had improved the ease of doing business.

According to SIAM data, combined domestic sales across passenger vehicle, commercial vehicle, three-wheeler and two-wheeler segments rose 10.4 per cent year-on-year to nearly 28.3 million (mn) units in the financial year ending March 2026 from around 25.6 million (mn) units a year earlier. Passenger vehicle sales increased 7.9 per cent to four point six four three mn units in FY26 while two-wheeler sales grew 10.7 per cent to 21.7 mn units. Commercial vehicle sales rose 12.6 per cent to one point zero eight mn units and three-wheeler sales increased 12.8 per cent to zero point eight three six mn units.

The Prime Minister highlighted the rapid expansion of charging infrastructure and noted registrations of electric passenger vehicles rose by more than 80 per cent in FY26, supporting broader segment growth. He cited production-linked incentives, Make in India and recent free trade agreements as having strengthened manufacturing capabilities and opened international markets; passenger vehicle exports rose zero point nine zero five mn units and two-wheeler exports reached five point one eight mn units in FY26, and he urged the industry to chart a bold pathway towards Viksit Bharat.

Published by HT Digital Content Services with permission from Construction World.