Overview
- Commerce and Industry Minister Piyush Goyal said on Monday at The Dilli Dialogue that India will become the global hub for car manufacturing and that European automakers will prefer to produce in India because of high costs in Europe.
- Goyal used Tata Motors’ post‑acquisition re‑engineering of Jaguar production and the move of some models to India as an example of how shifting manufacturing can restore profitability.
- The government has offered quota‑based tariff concessions in free trade talks with the UK and the EU, with the UK pact already in effect and an EU deal reported likely to be signed by the end of the year.
- India and several other countries have raised concerns about the European Union’s carbon border adjustment mechanism, arguing that the policy could make European production less competitive and influence relocation decisions.
- The commerce ministry is targeting $1 trillion in exports this fiscal year and points to rising April–August trade flows and a growing domestic manufacturing ecosystem as the economic basis for attracting global auto investment under the Viksit Bharat 2047 vision.