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MOL and Glovis account for roughly half of India ’ s vehicle carrier market . NiAk Stock / Shutterstock . com Ro / ro à go-go
Rebounding car exports nourish India ’ s ro / ro trade
By Bency Mathew
Demand for roll-on / roll-off ( ro / ro ) vessels out of India is set to climb in 2025 , building on the strong rebound in finished vehicle exports that started in 2024 .
A 14 % rise in made-in-India vehicles shipped out in the first half of fiscal year 2024 – 25 marked a welcome rally from a 5.5 % decline in full year 2023 – 24 exports , according to industry statistics from the Society of Indian Automobile Manufacturers ( SIAM ). The Indian fiscal year runs from April to March .
Port data seen by the Journal of Commerce confirms the upswing . Between April and November 2024 , automobile loads by tonnage from the government-operated Ennore , Chennai , Mumbai and Kandla ports jumped to 2.3 million tons from 1.3 million tons in the same period of 2023 . Ro / ro volumes at the APM Terminals facility in the Port of Pipavav rose to 116,000 units in the first three fiscal quarters , up from 62,000 units the previous year , as it aggressively taps spillover demand .
“ Key markets like Latin America and Africa , which had slowed for various reasons , have bounced back ,” SIAM President Shailesh Chandra said in a statement . “ This has been the main reason for exports coming back .”
According to S & P Global Mobility Light Vehicle Production Forecasts , production capacity will rise from 6.8 million units in 2023 to 10 million by 2031 , solidifying India ’ s role in the global automotive landscape . S & P Global is the parent company of the Journal of Commerce .
“ A significant driver of this growth is the anticipated increase in exports from major manufacturers like Maruti Suzuki and Hyundai , which may benefit from the growing demand for affordable vehicles in emerging markets ,” said Gaurav Vangaal , associate director of the light vehicle production forecast for the Indian subcontinent at S & P Global Mobility .
“ Key markets like Latin America and Africa ... have bounced back .”
Maruti Suzuki , a subsidiary of Japanese automaker Suzuki Motor and responsible for 40 % of India ’ s auto exports , currently ships 300,000 units a year via the Mundra and Pipavav ports . The company aims to ramp up its annual exports to 750,000 units by 2030 – 31 , according to a statement from the manufacturer . To meet demand , Maruti Suzuki plans to increase the annual production capacity in India to 4 million units by an unspecified date .
“ India will be a production hub for electric vehicles ,” Toshihiro Suzuki , representative director and president for Suzuki Motor , said at a press conference at the January Bharat Mobility Show in India . “ Scale in India is our
20 Journal of Commerce | March 2025 www . joc . com