Summary:
Significantly expanding over the past three years, India’s motorcycle parts exports have gained momentum, driven by government initiatives like the Production-Linked Incentive (PLI) scheme. This program has bolstered domestic manufacturing and elevated the sector's global presence. According to data from the Ministry of Commerce, exports of motorcycle parts and accessories surged from Rs. 4,833.27 crore (US$ 558.05 million) in April-January of FY22 to Rs. 6,142.55 crore (US$ 709.22 million) during the same period in FY25, representing a 27.09% increase. In FY24, exports stood at Rs. 6,421.79 crore (US$ 741.46 million), reflecting a 13.5% rise from Rs. 5,658.23 crore (US$ 653.30 million) in FY23.
This notable growth demonstrates India’s strengthening integration into global supply chains and its rising competitiveness compared to major suppliers like China and Thailand. Concurrently, the nation reduced its reliance on imports, with motorcycle parts imports dropping from Rs. 4,281.91 crore (US$ 494.39 million) in FY22 to Rs. 2,978 crore (US$ 343.84 million) in FY24. Furthermore, the overall export of auto components, including motorcycle parts, increased from Rs. 59,588 crore (US$ 6.88 billion) in FY22 to Rs. 66,690 crore (US$ 7.70 billion) in FY24, with primary export destinations including the US, Turkey, Germany, Mexico and Brazil. The PLI scheme, introduced on September 15, 2021, with a five-year budget of Rs. 25,938 crore (US$ 2.99 billion) through FY27, is designed to enhance domestic manufacturing capabilities, draw investments and minimize import dependence. Among the major recipients of India’s motorcycle parts exports are Bangladesh, Germany, the US, UK, Indonesia, the UAE, Brazil, Turkey, Thailand, Sri Lanka, Italy, Egypt, Colombia, Congo, Guinea, Vietnam and China. India's increasing exports to both advanced and emerging economies underline its growing role as a critical player in the global supply chain.
Source: IBEF
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