Automobile Industry a Key Driver of India’s Growth - SIAM

The automobile industry is one of the key drivers of India’s economic growth, said Shailesh Chandra, President of the Society of Indian Automobile Manufacturers (SIAM). He stated that the automobile sector contributes more than ₹22.75 lakh crore to India’s GDP and accounts for nearly 15% of the government’s GST revenue.

According to Chandra, the automobile industry provides direct and indirect employment to more than 30 million people. He also highlighted the sector’s contribution to the growth of allied industries and the overall supply chain. He made these remarks at SIAM’s 66th Annual Convention held on Thursday.