In April 2025, NITI Aayog released a report titled "Automotive Industry – Powering India's Participation in Global Value Chains". What is the primary objective of this report?

Correct option is B

The correct answer is: (B) To propose strategies for enhancing India's role in global automotive value chains

Explanation:

• The NITI Aayog report titled "Automotive Industry – Powering India's Participation in Global Value Chains" aims to enhance India's role in global automotive value chains.
• It outlines strategies to increase India's share in the global auto component market from 3% to 8% by 2030.
• The report envisions boosting auto component production to $145 billion and exports to $60 billion, creating 2–2.5 million additional direct jobs.
• It identifies challenges such as cost disadvantages and supply chain inefficiencies and proposes interventions like fiscal incentives, R&D support, and infrastructure development.
• The report also emphasizes the importance of aligning with global trends like electric mobility and advanced driver assistance systems.

Information Booster:

• India's automotive sector is the world's fourth-largest, contributing 7.1% to the nation's GDP.
• Despite this, India's share in global auto component exports remains around 3%, indicating untapped potential.
• The report proposes a comprehensive set of fiscal and non-fiscal interventions to address structural challenges and enhance competitiveness.
• It highlights the need for policy support to overcome cost disadvantages and attract investments in high-value automotive manufacturing.