India has a strong position in the global heavy vehicles market, being the world's largest producer of tractors, the second-largest bus manufacturer, and the third-largest heavy truck manufacturer. In FY22, India produced 22.93 million vehicles, and it is also a prominent auto exporter with strong export growth prospects. The Indian government's initiatives, such as the Automotive Mission Plan 2026, scrappage policy, and production-linked incentive scheme, are expected to make India one of the global leaders in the two-wheeler and four-wheeler market by 2022.