[🇮🇳] Indian Economy watch- All new developments.

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Indian Railways' first 9,000 HP electric locomotive engine inaugurated by PM Modi; unveils Dahod's loco workshop - Top facts​

Story by TOI Business Desk
• 3h•
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Indian Railways’ first 9,000 HP electric locomotive engine was unveiled by PM Narendra Modi in Dahod on Monday. PM Modi inaugurated the locomotive manufacturing shop at Dahod's rolling stock workshop. PM Modi was accompanied by Union Railway Minister Ashwini Vaishnaw and Gujarat CM Bhupendra Patel.

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PM Modi is on a two-day tour of Gujarat on May 26 and 27, during which he will inaugurate multiple development initiatives in Dahod, Bhuj, and Gandhinagar. These projects, including significant Indian Railway undertakings and state government schemes, are collectively worth more than Rs 24,000 crore.

India’s first 9,000 HP locomotive & Dahod locomotive workshop: Top Things to Know​

• The Dahod locomotive manufacturing workshop's foundation stone was laid in 2022 and within a span of 3 years, this production facility stands completed.
• The Railway Ministry project has been built with an investment of Rs 21,405 crore.
• The 9,000 HP locomotive engine has been manufactured as part of the 'Make in India' programme, according to an official statement.

Indian Railways' first 9,000 HP electric locomotive engine inaugurated by PM Modi; unveils Dahod's loco workshop - Top facts

• The locomotive engines produced at this facility will be capable of transporting 4,600 tonnes of freight, with plans to manufacture roughly 1,200 engines within the next decade.
• The facility's manufacturing setup can produce 120 locomotives yearly, with the capability to increase output to 150 units per annum based on market requirements
• The facility is dedicated to manufacturing 9000 HP electric locomotives, serving both domestic requirements and export purpose
• These powerful engines will enhance the cargo-carrying capabilities of Indian Railways' network.

Indian Railways' first 9,000 HP electric locomotive engine inaugurated by PM Modi; unveils Dahod's loco workshop - Top facts

• The locomotives incorporate regenerative braking technology and feature energy-efficient designs, supporting eco-friendly railway operations.
• The Dahod railway production facility will generate employment for 10,000 individuals and stimulate the regional economy.

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Japan enters top five export markets for India-made cars​

Story by TOI Business Desk
• 3h•
2 min read

Japan enters top five export markets for India-made cars
NEW DELHI: Japan has become one of the top five destinations for Indian car exports for the first time in FY25, signaling growing global demand for vehicles manufactured in India, even from advanced markets.

Major Indian exporters like Suzuki Motor Corp and Honda Motor Co's local units are increasingly using India as a global production base.

According to commerce ministry data compiled by SIAM, car exports to Japan jumped to $616.45 million in the first nine months of FY25, up from $220.62 million in all of FY24.

Although official data for the March quarter is still awaited, industry sources expect exports to Japan to grow further, especially after Maruti Suzuki began shipping its Jimny SUV to the country in January.

"Over decades, we have built a base in quality, cost, efficiency and technology in car manufacturing. This has given us volumes and economies of scale," senior executive officer at Maruti Suzuki India, Rahul Bharti told the Economic Times.

He further noted that the company plans to export large number of e Vitara electric SUVs, produced in India, to European markets and Japan.

Japan, a significant automobile manufacturer and exporter, shipped 5.12 million vehicles in 2024.


Related video: India has become the world's 4th largest economy, surpassing Japan (Live Mint)

India has become the world's 4th largest economy, surpassing Japan


Honda Cars India exported 45,167 units of SUV Elevate, predominantly to Japan, surpassing its domestic sales of 22,321 units. Maruti Suzuki offers SUVs Fronx and Jimny in Japan.

Significantly, Suzuki temporarily suspended new Jimny five-door bookings due to overwhelming post-launch demand, receiving approximately 50,000 orders within four days in Japan.

"Indian OEMs have been not only expanding into key markets such as Africa and Latin America but are also beginning to enter developed markets (like Japan) with globally competitive models," Shailesh Chandra, president, Society of Indian Automobile Manufacturers said.

In the two-wheeler sector, Yamaha intends to begin exporting premium motorcycles to Japan soon. Itaru Otani, chairman, Yamaha Motor India Group, stated, "The sourcing cost, the labour cost, is quite low in India compared to other countries."

"We are exporting nearly a third of our output to 58 countries already. We started exports to Europe from India at the end of last year. The next step is to ship to other advanced markets like Japan and the US," Otani added.

India's automobile exports increased by 15% to 770,364 vehicles last fiscal year, significantly outperforming domestic sales growth of 2% at 4.3 million vehicles.

While compact passenger vehicles constitute over 27% of exports, measuring up to 4 metres in length and up to 1.4-litres, compact SUVs of similar dimensions are gaining prominence.