New Delhi, June 5 (IANS) India’s growth engine is in top gear, Union Minister Piyush Goyal said on Friday while highlighting the strong performance of the country’s passenger vehicle market, which recorded robust expansion in May 2026. In a post on social media platform X, the minister said India’s passenger vehicle market clocked nearly 4.4 lakh units in May 2026, marking a 23 per cent year-on-year growth. He noted that the growth was driven by leading automakers including Maruti Suzuki India, Tata Motors, and Mahindra & Mahindra.

“India's growth engine is in top gear! India's passenger vehicle market clocked nearly 4.4 lakh units in May 2026, registering 23 per cent year-on-year growth, led by Maruti Suzuki India, Tata Motors and Mahindra Auto, reflecting strong consumer demand despite global uncertainties,” Goyal said. He added that the rising demand for Made-in-India vehicles highlights growing consumer confidence in domestic manufacturing and the strength of India’s automotive ecosystem.

“The robust demand for Made-in-India vehicles reflects growing consumer confidence, a thriving manufacturing ecosystem, and the transformative impact of PM Narendra Modi's Make in India vision,” he added. The minister also linked the sector’s growth to the broader economic transformation underway in the country, crediting the government’s Make in India initiative for boosting manufacturing and industrial output.

He said the momentum in the automobile sector reflects innovation, enterprise, and the aspirations of 140 crore Indians, adding that such trends are contributing to the vision of building a Viksit Bharat.' “The journey towards Viksit Bharat is being driven by innovation, enterprise, and the aspirations of 140 crore Indians,” the minister explained. Earlier in the month, the country’s largest carmaker, Maruti Suzuki India reported its highest-ever monthly domestic sales, dispatching 1,90,337 passenger vehicles to dealers in May. The company registered a growth of 39.99 per cent y-o-y, surpassing its previous record of 1,87,704 units achieved in April this year, according to industry estimates.

--IANS