Hyundai Motor India calls for domestic advanced-component push to close $1.4B trade gap
Hyundai Motor India CEO Tarun Garg urged India to build local capabilities in semiconductors, EV battery cells, rare-earth magnets and power electronics. Auto-component exports reached $24 billion in FY26, versus $25.4 billion in imports.
What happened
Hyundai Motor India CEO Tarun Garg urged India to reduce its $1.4 billion auto-component trade deficit by developing domestic capabilities in semiconductors, EV
Key facts
- $24 billion auto-component exports in FY26
- $25.4 billion auto-component imports in FY26
- $1.4 billion auto-component trade deficit
- 66th ACMA Annual Session
- three decades
Why this matters
Strategic buyers should target or partner with Indian firms in EV cells, chip design, rare-earth materials and power electronics before localization demand accelerates.