Hyundai to invest $15.5 billion in India by 2032, about Rs 4.3 trillion, after Euisun Chung meets Modi

Hyundai Motor Group will invest $15.5 billion in India from 2026 through 2032, about Rs 4.3 trillion, the South Korean carmaker said on Tuesday after executive chair Euisun Chung met Prime Minister Narendra Modi, CNBC reported.

Where the money goes

Hyundai said the seven-year plan covers:

• expanding manufacturing,
• research and development facilities,
• developing local suppliers so more parts are made in India,
• future technology.

It will set up a dedicated investment entity in India to run the programme. Chung said the investment "reaffirms" Hyundai's commitment to India "for the next 30 years and beyond".

The Indian market in numbers

• Hyundai can already build 1.4 million vehicles a year in India and exports from there.
• It is India's third-largest carmaker this year, with 247,980 passenger cars sold from April to August, behind Maruti Suzuki and Mahindra & Mahindra. In the year to March 2026 it was fourth, behind M&M and Tata Motors.
• India's passenger car sales hit a record 439,000 units in August, up more than 36% year on year, according to the Society of Indian Automobile Manufacturers.
• Hyundai Motor India's 2024 listing raised $3.3 billion, India's largest IPO.

The comparison with Pakistan

Pakistan's whole car market sold 41,872 cars in July to September 2026, up 43% on a year earlier, which is less than a tenth of India's monthly sales. Hyundai is assembled here by Hyundai Nishat at Faisalabad, and the scale gap explains why the same model often costs more in Pakistan: fewer cars to spread tooling and parts costs over, plus higher duties.

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