In October 2023, consultancy Arthur D Little concluded that India has the potential to become a major global hub for mobility innovation. Currently valued at US$100bn, the fourth-largest automotive market could grow to US$1tr by 2035. Consequently, it is expected to gain a strong reputation as a nexus for clusters of competitive and cutting-edge technology projects.
Prathamesh Chaudhari, Principal at Arthur D Little, tells Automotive World that the Indian market’s particular challenges are underpinning this growth. “Affordability for the masses is a key consideration for manufacturers. However, they still want to meet all the same standards as other markets in terms of safety and features.” Reconciling these objectives is spawning hubs focused on everything from electric vehicles (EVs) and batteries to start-up accelerators and hydrogen.
But what existing innovation hubs are shaping the space, and where could emerging opportunities lead India’s ascendant market?
