Indian Motorcycle Parts Exports Rise 27% In Three Years

2025-03-19 02:12:12

(MENAFN- KNN India) New Delhi, Mar 19 (KNN) India's exports of motorcycle parts have seen a remarkable rise over the past three years, driven by government incentives and strengthened domestic manufacturing.

Official data from the commerce ministry highlights a sharp increase in exports, positioning India as a key supplier to international markets.

According to ministry data, exports of motorcycle parts and accessories grew from USD 558.05 million in April-January of FY22 to USD 709.22 million in the same period of FY25, marking a 27.09 per cent increase.

In FY24 alone, exports stood at USD 741.46 million, reflecting a 13.5 per cent growth from USD 653.30 million in FY23. While exports had briefly dipped in FY23, the strong recovery in FY24 underscores rising global demand for Indian components.

This growth is largely attributed to the Production-Linked Incentive (PLI) scheme, introduced by the government to enhance domestic manufacturing capabilities.

The scheme, approved in September 2021 with a budget of Rs 25,938 crore, aims to attract investment and reduce import dependence while boosting exports.

At the same time, India's imports of motorcycle parts have steadily declined. Imports fell from USD 494.39 million in FY22 to USD 425.68 million in FY23 and further to USD 343.84 million in FY24-a cumulative drop of over 30 per cent in two years. This trend suggests increasing self-reliance and domestic production capacity.

Industry experts highlight India's deeper integration into global supply chains, with exports expanding in markets like Latin America, Africa, and Southeast Asia. Major export destinations include the US, Germany, Mexico, Brazil, Turkey, and Bangladesh.

“As India aims to become a global manufacturing hub, the rise in motorcycle parts exports demonstrates its potential in the global supply chain,” said Dattesh Parulekar, assistant professor of international relations at Goa University.

(KNN Bureau)

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