India, July 15 -- On Tuesday, Financial Times reported that monthly Chinese passenger car exports crossed the one million mark by volume for the first time in June. "Shipments of cars rose 71.2 per cent from a year earlier to 1.06mn, putting the country on track to export more than 10mn cars this year, up from 7.1mn last year and more than double the 4.9mn in 2023", the report said. China became the world's largest car exporter in 2023, according to an earlier FT report.

Global commentary on Chinese car export boom has largely focused on its impact on European manufacturers. Volkswagen, for example, has announced plans to cut 100,000 jobs globally. What is less widely recognised is that India and China used to be peers in car exports unt...