India's growth engine is in top gear: Piyush Goyal on strong PV sales momentum
New Delhi, June 5
India's growth engine is in top gear, Union Minister Piyush Goyal said on Friday while highlighting the strong performance of the country's passenger vehicle market, which recorded robust expansion in May 2026.
In a post on social media platform X, the minister said India's passenger vehicle market clocked nearly 4.4 lakh units in May 2026, marking a 23 per cent year-on-year growth.
He noted that the growth was driven by leading automakers including Maruti Suzuki India, Tata Motors, and Mahindra & Mahindra.
"India's growth engine is in top gear! India's passenger vehicle market clocked nearly 4.4 lakh units in May 2026, registering 23 per cent year-on-year growth, led by Maruti Suzuki India, Tata Motors and Mahindra Auto, reflecting strong consumer demand despite global uncertainties," Goyal said.
He added that the rising demand for Made-in-India vehicles highlights growing consumer confidence in domestic manufacturing and the strength of India's automotive ecosystem.
"The robust demand for Made-in-India vehicles reflects growing consumer confidence, a thriving manufacturing ecosystem, and the transformative impact of PM Narendra Modi's Make in India vision," he added.
The minister also linked the sector's growth to the broader economic transformation underway in the country, crediting the government's Make in India initiative for boosting manufacturing and industrial output.
He said the momentum in the automobile sector reflects innovation, enterprise, and the aspirations of 140 crore Indians, adding that such trends are contributing to the vision of building a Viksit Bharat.'
"The journey towards Viksit Bharat is being driven by innovation, enterprise, and the aspirations of 140 crore Indians," the minister explained.
Earlier in the month, the country's largest carmaker, Maruti Suzuki India reported its highest-ever monthly domestic sales, dispatching 1,90,337 passenger vehicles to dealers in May.
The company registered a growth of 39.99 per cent y-o-y, surpassing its previous record of 1,87,704 units achieved in April this year, according to industry estimates.
— IANS
Reader Comments
Make in India is truly working! 🇮🇳 We are not only manufacturing for ourselves but also exporting. The confidence in domestic brands is visible. Hopefully, EV adoption also picks up similarly in coming years.
Impressive numbers indeed, but I wonder about the sustainability of this growth given global supply chain issues. Also, the roads and traffic infrastructure in our cities haven't kept pace. More cars without better roads is a recipe for congestion.
Wonderful to see Tata Motors and Mahindra also leading the charge! 🎉 This is a testament to Indian engineering and innovation. However, I hope the government also focuses on public transport and electric mobility to balance growth with environmental concerns.
Great news! But for many in smaller towns, car ownership is still a distant dream due to high taxes and fuel costs. The real measure of 'Viksit Bharat' will be when two-wheeler families can afford a car. Still, the trend is positive. Let's hope it continues.
As an auto enthusiast, this is fantastic! Indian brands are finally getting the recognition they deserve globally. But I'm curious about the after-sales service and spare parts availability - that's where many Indian manufacturers still lag behind international standards.
V Vikram M