India's automobile sector will double by 2030. According to the recent Think Mobility report by Google and Boston Consulting Group (BCG), the market cap of the auto sector will exceed $ 600 billion by 2030. It also says that due to emerging revenue sources like electric, shared and connected mobility, trade of $ 100 billion will increase.

BCG Managing Director Natarajan Shankar said that India is already the third largest automobile industry in the world. There will be more changes in India in the next few years. It is more important than ever for OEMs to effectively harness global innovations in EV, digital and AI.

EV market is growing

According to the report, EV has contributed a lot in the growth of the country's auto industry. One in three buyers are considering purchasing EV vehicles, with distinct preferences emerging between electric four-wheelers (E4W) and electric two-wheelers (E2W). E4W buyers give priority to high technology. At the same time, E2W customers make purchases keeping comfort in mind.

Apart from this, BCG Managing Director Vikram Janakiraman also talked about the needs of the people. He said that the companies present in the market will have to make cars according to the demand. Companies will have to make vehicles user friendly by using digital technology and AI technology as per the needs of the people.

Bhaskar Ramesh, Director, Omni-channel Business, Google India, said that the auto industry is going through a major transformation, which is redefining the entire ecosystem. Digital shopping is on the rise, led by Gen Z and women, along with new ways to make profits and changing customer preferences.