Due to the Corona crisis, India’s vehicle exports have decreased by 39 percent in the last financial year. According to data from the Society of Indian Automobile Manufacturers (SIAM), 6,62,118 vehicles were exported in the 2019-20 financial year, but in 2020-21 the figure came down to 4,04,400.
Trade and industry businesses are also getting badly affected due to Corona epidemic. Talking about the automobile sector, the exports of vehicles from India have decreased by 39 percent in the last financial year. According to data from the Society of Indian Automobile Manufacturers (SIAM), 6,62,118 vehicles were exported in the 2019-20 financial year, but in 2020-21 the figure has come down to 4,04,400. Thus, there has been a total decline of 38.92 percent in the export of passenger vehicles. The most important reason for this decline is the corona epidemic.
Reduction in exports of all types of vehicles
Talking about passenger cars exported from India, in the 2019-20 financial year, India exported 4,75,801 cars, which has been reduced to 2,64,927 in 2020-21. Thus, there has been a decline of 44.32% in the revenue of car exports. Similarly, there has been a decrease of 24.88 per cent in the revenue received in the field of utility vehicles. In the case of vans exported from India, only 1,648 units were exported in 2020-21 as compared to 2,849 in 2019-20 last year. That is, there has been a 42.16 percent decrease in revenue here.
More losses in the first half
The highest losses have been reported in the first 6 months of the financial year. When the epidemic caused lockdown, many restrictions on rail and air travel were in force. Although the automobile industry did a better job of improving exports in the second half of the financial year, despite this, the total exports of the year remained much lower than the previous financial year. Now, even in the beginning of the current financial year i.e. 2021-22, the situation is worse for Corona, which can be seen in the future.