Manufacturing will play pivotal role in shaping Viksit Bharat: Mercedez Benz India CEO
automotive manufacturing ecosystem in specific is well-poised, presenting unlimited potential. This potential is underscored by strong domestic consumption and growing international demand for our products and services.
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It is initiatives like 'Make in India' that have played a pivotal role in boosting the automotive manufacturing prowess, building confidence in local competencies, in local talent pool having global capabilities, positioning India as a potential 'global manufacturing hub'. For instance, we now produce two world-class electric vehicles (EVs) in Pune, the first market outside Germany and the US to accomplish this feat.
The country's manufacturing sector, contributing about 17% of India's GDP and employing over 27 million, remains the backbone of economic transformation that will eventually catapult it to the 'developed economy' badge. 'Viksit Bharat' is a transformation that can push ahead with the realisation of India becoming the third largest economy by 2030, and manufacturing and automotive segments are bound to play a pivotal role.
From a luxury original equipment manufacturer (OEM) perspective, we view automotive manufacturing growth passively related to the Indian market's high growth potential. Today's upwardly mobile youth is driven by a desire for a better lifestyle, wants higher disposable income, has aspirations. This presents an
