India's automotive industry to be worth $1 trillion by 2035: Report

The Indian automotive industry, the world's fourth largest, is expected to be worth $1 trillion by 2035, according to a report. This includes an additional $400-billion-plus from design, development and other technology areas as the country transforms itself into a global automotive hub, it said.

To achieve this, players across the industry must upgrade their capabilities for reliable and competitive global manufacturing, said the report released by management consulting firm Arthur D Little.

India's automotive manufacturing industry will have to make an investment of $100-150 billion till 2035 to ensure that it hits the $600 billion mark, said Barnik Chitran Maitra, the consultancy's managing partner (India & South Asia). "A lot of this investment will come from homegrown automakers that aspire to become global by then."

Private capital that gets raised by these companies will get funnelled into developing new platforms as they become global chains, he added.