The export of commercial vehicles registers a growth of 83.36%. Export of Passenger vehicles registers a growth of 42.9%

Photo Credit : Reuters,

A positive rise of 35.9 per cent has been recorded in the export of all autos increasing from 41,34,047 in 2020–21 to 56,17,246 in 2021–22. Out of this, the Minister of State for the Ministry of Commerce and Industry, Anupriya Patel, stated in response to a Parliament Question today that exports of passenger vehicles, including cars, increased from 4,04,397 in 2020–21 to 5,77,875 in 2021–22, registering a positive growth of 42.9 per cent, and commercial vehicles increased from 50,334 in 2020–21 to 92,297 in 2021–22, registering a positive growth of 83.3 per cent.

India’s export of automobiles including passenger cars and commercial vehicles during the last two years:

9.89 per cent of motor vehicles/cars were exported from Haryana in total export of vehicles during 2021-22.

To promote India’s export the government of the country took the following steps as it extended the Foreign Trade Policy (2015-20) up to 31/ 03/23 along with this, the government extended Interest Equalisation Scheme on pre and post-shipment rupee export credit up to 31/03/24. Market Access Initiatives (MAI) Scheme and Trade Infrastructure for Export Scheme (TIES) are two of the programmes that offer assistance to promote exports. 

The RoSCTL (Rebate of State and Central Levies and Taxes) Scheme has been in force since 07/03/19 to support exports in the labour-oriented industry. Since 01/01/21, the Remission of Duties and Taxes on Exported Products (RoDTEP) system has been in action. Until 15/12/22, unregulated industries like medicines, organic and inorganic chemicals, and iron and steel products were not covered by RoDTEP. Similar to this, 432 tariff lines had anomalies that were fixed, and the adjusted prices went into effect on 16/01/23. The active promotion of India's commerce, tourism, technology, and investment aims has increased by Indian embassies abroad.