With reference to the NITI Aayog report 'Automotive Industry: Powering India's Participation in Global Value Chains' (2025), which of the following statements is/are correct?
1. India aims to increase its share in the globally traded auto components market from 3 percent to 8 percent by 2030.
2. The automotive sector currently accounts for more than half of India's total national GDP.

Question

Accepted Answer

1 only — Statement 1 is correct; the report targets scaling India's global auto component trade share from 3 percent to 8 percent by 2030. Statement 2 is incorrect; the automotive sector contributes approximately 7.1 percent to India's national GDP and 49 percent to its manufacturing GDP, not half of the total national GDP.

NITI Aayog Releases Automotive Industry GVC Report

SC Strips Speaker of Immunity in Defection Cases