Business News | Indian Commercial Vehicle Industry Poised for Upcycle as Replacement Demand Builds: Nomura

Get latest articles and stories on Business at LatestLY. The Indian medium and heavy commercial vehicle (M&HCV) industry appears to be entering the next upcycle, with industry volumes estimated to grow by around 8 per cent year-on-year in FY26 and 10 per cent in FY27, following a period of modest growth, according to a report by Nomura.