India’s economy is expected to maintain a 6 percent growth rate between 2026 and 2031, according to S&P Global estimates. This growth is similar to China’s rates in the early 2000s, which led to record profits for European carmakers.
The country is also transitioning from combustion engines to electric vehicles, with the share of combustion engines predicted to decline to 35 percent by 2035. However, the biggest challenge in this transition is charging infrastructure.