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Events / CRISIL Forecasts India Two-Wheeler...
Business Industry forecast

CRISIL Forecasts India Two-Wheeler Industry Growth

Analysis based on 7 articles · First reported Feb 17, 2026 · Last updated Feb 18, 2026

Sentiment
60
Attention
4
Articles
7
Market Impact
Direct
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Market Impact

The Indian two-wheeler industry is projected for robust growth, driven by domestic demand and exports, which is positive for manufacturers and related sectors. The proposed India-United States trade agreement is expected to have a limited impact on the overall market.

Automotive Manufacturing Financial Services
Event Summary

S&P Global===CRISIL Ratings forecasts India's two-wheeler industry to grow 7-9% in fiscal 2027, reaching 29 million units. This growth is primarily fueled by improved domestic affordability due to Goods and Services Tax (GST) rate rationalization and strong export performance. While entry-level motorcycles still dominate, there's a gradual shift towards higher-capacity models. A proposed India-United States trade agreement might offer niche opportunities for motorcycles above 500cc, but its overall impact on the industry is expected to be minimal. The industry's revenue is projected to grow 10-12% next fiscal, with operating margins sustained around 16%, supported by healthy internal accruals for capital expenditure.

Key Actions
90 S&P Global===CRISIL published report forecasting industry growth
80 India implemented Goods and Services Tax (GST) rate rationalization
30 India proposed trade agreement with United States United States
Entities Involved
cnt
India
India's two-wheeler industry is the primary focus of the report, with domestic sales and exports driving growth. The Goods and Services Tax (GST) rate rationalization in India has improved affordability and boosted demand.
Importance 100 Sentiment 60
subs
S&P Global===CRISIL
S&P Global===CRISIL Ratings published a report forecasting significant growth for the India two-wheeler industry, solidifying its position as a key financial insights provider for the sector.
Importance 90 Sentiment 70
per
Anuj Sethi
Anuj Sethi, Senior Director at S&P Global===CRISIL Ratings, provided insights on the expected growth of domestic two-wheeler volumes, particularly highlighting the rise of scooters and e-scooters.
Importance 60 Sentiment 0
per
Poonam Upadhyay
Poonam Upadhyay, Director at S&P Global===CRISIL Ratings, emphasized the strong growth potential of two-wheeler exports, particularly to Latin America, Africa, and South Asia.
Importance 60 Sentiment 0
cnt
United States
A proposed trade agreement between India and the United States is expected to create limited opportunities in the above-500cc motorcycle segment by reducing import duties, but its overall impact on the Indian two-wheeler industry will be minimal.
Importance 20 Sentiment 0
stock
Harley-Davidson
Harley-Davidson is mentioned as a potential beneficiary of the proposed India-United States trade deal, which could provide duty-free access for its high-end models in India, though the overall impact on the Indian market is limited.
Importance 10 Sentiment 10
Relationships
Anuj Sethi related ↔ S&P Global===CRISIL
Poonam Upadhyay related ↔ S&P Global===CRISIL
S&P Global===CRISIL related ↔ India
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