Stellantis India's Growth Accelerates with GST 2.0 Reforms

Stellantis India anticipates more than 5% growth in the passenger car industry due to GST 2.0, focusing on small car demand. With major brands like Jeep and Citroen, and manufacturing facilities like Hosur, the company plans substantial export expansion and innovation in the Indian market.

The passenger car industry is set to exceed 5% growth in volume, spurred by the recent GST 2.0 reforms, according to a top Stellantis India executive. The company operates key brands, including Jeep and Citroen, in India and forecasts a significant increase in exports.

Stellantis aims to quadruple its component exports to Rs 10,000 crore, leveraging its manufacturing prowess at facilities like the Hosur plant. The plant, a vital part of Stellantis's global operations, churns out engines and gearboxes, supporting a growing demand for smaller, more affordable vehicles.

Stellantis is capitalizing on reduced GST rates for its Citroen lineup and Jeep models, translating to increased sales. The company plans to enhance its market presence through expansion, innovation, and a strong focus on export-driven growth, bolstered by India's manufacturing and technological capabilities.

(With inputs from agencies.)