India’s growth engine is running smoothly, according to Union Minister Piyush Goyal, who praised the robust performance of the country’s passenger vehicle market in May 2026. The market saw a significant 23% year-on-year growth, with close to 4.4 lakh units sold during the month. Leading automakers like Maruti Suzuki India, Tata Motors, and Mahindra & Mahindra were instrumental in driving this growth.
Goyal emphasized that this growth signifies strong consumer demand despite global uncertainties. He highlighted the increasing popularity of Made-in-India vehicles as a testament to growing consumer confidence in domestic manufacturing and the resilience of India’s automotive industry. The minister credited PM Narendra Modi’s Make in India initiative for boosting manufacturing and industrial output, contributing to the sector’s positive momentum.
The minister linked the automobile sector’s success to the broader economic transformation in India, attributing it to the government’s efforts under the Make in India campaign. He underscored that the sector’s progress reflects a blend of innovation, entrepreneurship, and the aspirations of the country’s vast population. This trend aligns with the vision of creating a developed India, driven by the collective aspirations and endeavors of its 1.4 billion citizens.
Maruti Suzuki India, the country’s largest carmaker, achieved a milestone in May by recording its highest-ever monthly domestic sales of 1,90,337 passenger vehicles. This marked a nearly 40% year-on-year growth, surpassing the company’s previous record set in April.
