India Is Exporting Millions Of Motorcycles. Most Of Them Are Tiny

The real global motorcycle arms race is happening at 125cc, and India is winning it.

Photo by: TVS Motor Company

By: Enrico Punsalang

Sep 3, at 7:17am ET

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Spend enough time around motorcycles in the US and parts of Europe and you’d think the industry’s center of gravity sits somewhere between a 150-horsepower adventure bike and a superbike with MotoGP levels of tech. Meanwhile, on the other side of the planet, India has been building a motorcycle export machine on a very different formula.

India has been shipping millions of bikes overseas, and most aren’t remotely the motorcycles enthusiasts spend their time arguing about online.

India exported a record 4.47 million motorcycles during its 2026 financial year, according to industry data. That’s about 25.7% of the motorcycles the country produced, meaning roughly one out of every four Indian-built bikes went somewhere else. Those motorcycles reached 154 countries, while India’s total two-wheeler exports climbed to a record 5.18 million units, up 23.4% from the previous financial year.

The money involved has grown substantially, too. India’s motorcycle export earnings climbed from Rs 129.03 billion in FY2018 to a record Rs 352.53 billion in FY2026, or roughly $3.7 billion at current exchange rates. That’s an increase of about 173% in eight years. This isn’t some niche side business built around exporting a few enthusiast bikes to wealthy markets. Motorcycles have become one of India’s serious manufacturing exports, and the latest numbers suggest the machine is still accelerating.

The Bikes Driving This Boom Aren’t What You’d Expect

Photo by: Bajaj

Things get considerably more interesting when you look at what India is actually shipping. Between April and July 2026, manufacturers exported 1.81 million motorcycles, a massive 33% increase year over year. At that pace, exports could reach roughly 5.44 million motorcycles for FY2027, which would push India past five million annual motorcycle exports for the first time.

Now here’s the fun part. Of those 1.81 million motorcycles exported during the first four months of FY2027, about 1.22 million were 100cc to 125cc commuter motorcycles and scooters. That’s 68% of the entire motorcycle export business. Forget 200-horsepower superbikes, giant ADVs, carbon fiber winglets, electronically adjustable suspension, and dashboards large enough to watch Netflix on. The bikes moving the needle are tiny commuters.

It makes perfect sense once you stop looking at motorcycles purely as toys. Across huge parts of Africa, Latin America, and Asia, a motorcycle isn’t something you take out on Sunday because the weather looks nice. It’s transportation, a delivery vehicle, a work tool, and sometimes an entire family’s mobility solution. Cheap purchase prices, simple mechanicals, excellent fuel economy, and readily available parts matter a lot more there than launch control.

Two Companies Control Three Quarters Of The Action

There’s another remarkable concentration hiding inside those numbers. Bajaj and TVS together exported 1.38 million motorcycles between April and July 2026. That’s 76% of India’s total motorcycle exports during the period. Two manufacturers are responsible for more than three out of every four Indian motorcycles currently heading overseas, and both actually exported more motorcycles than they sold domestically during those four months.

Bajaj alone shipped 854,991 motorcycles, up 48% year over year, giving it roughly 47% of India’s motorcycle export market. TVS followed with 529,041 units, up 31%, for another 29%. Their grip gets even stronger at the inexpensive end of the market. Together, Bajaj and TVS controlled 88% of India’s 100cc to 125cc motorcycle exports during the period.

Those aren’t abstract export numbers, either. Bajaj says its African retail motorcycle volumes doubled during the first quarter of FY2027, while Brazilian retail volumes increased 50%. During FY2026, East African volumes had already grown 54%, South Asia climbed 36%, and Latin America delivered Bajaj’s best year ever. Its Pulsar exports rose 18%, while exports of the decidedly unglamorous but incredibly useful CT family jumped 34%.

It's also important to note that Bajaj and TVS own some seriously heavy hitting brands in the global space. We're very familiar with how Bajaj swooped in to save KTM's ass not too long ago, along with GasGas and Husqvarna in the process. TVS, on the other hand is solely responsible for Norton's fairly successful revival strategy currently unfolding.

The Global Motorcycle Market Looks Very Different From America

This is where India’s export boom becomes more interesting than another sales report. In America and much of Europe, motorcycles are increasingly discretionary purchases. Manufacturers chase performance, technology, premium finishes, and higher margins because enthusiasts with disposable income are the customers they’re fighting over. That’s how we ended up with motorcycles exceeding car money while making enough horsepower to terrify physics itself.

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India is attacking another enormous part of the market altogether. Colombia, Mexico, Sri Lanka, Nigeria, Nepal, the Philippines, Brazil, and dozens of other countries need affordable motorcycles by the millions. India has developed the manufacturing scale, supplier network, product portfolio, and increasingly recognizable brands to satisfy that demand. A weaker rupee has helped exports as well, according to the Society of Indian Automobile Manufacturers.

And that’s perhaps the most revealing part of all this. The motorcycle industry’s global future isn’t necessarily being decided by who can build the fastest superbike or cram another radar sensor into an adventure bike. Somewhere, someone is buying a basic 125cc commuter because they need to get to work tomorrow morning. Multiply that person by several million, spread them across 154 countries, and suddenly the humble little motorcycle starts looking like one of the most important machines in the world.