Two-wheeler exports to decline by 18-21% in FY21, says India Ratings

Ratings agency India Ratings and Research (Ind-Ra) said it expects the two-wheeler (2W) exports decline for FY21 to be in line with that of the domestic industry at 18-21 per cent. It added that since two-wheeler exports only accounted for 16-18 per cent of the total two-wheeler sales for Indian OEMs, this was not likely to be substantial enough to compensate for the domestic volumes during the same period. Two-wheeler export volumes are likely to increase by mid-teens in FY22, the ratings agency said.

The Ind-Ra report said that India’s two-wheeler exports would see sustained growth in the second half of