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Software and digital engineering solutions provider PTC has identified India as a key growth market for the automotive sector, particularly in the electric vehicle (EV) industry. According to India Vice President Upkar Saini, the country’s rising EV adoption and increasing demand for faster, cost-efficient product development are creating significant new opportunities for the company.
Speaking at a company event, Saini said India is currently the world’s third-largest automobile market by sales, with strong potential for EV penetration, especially in passenger vehicles and SUVs. He noted that while India is witnessing robust growth in EV adoption, it still has a long way to go compared to China and Western markets.
He added that EV adoption in India is already gaining strong momentum in the two-wheeler and three-wheeler segments, while the passenger vehicle segment continues to represent a major opportunity area. According to him, automakers are increasingly shifting toward integrating engineering, manufacturing, and service operations instead of working in silos.
PTC provides product lifecycle management, engineering, and manufacturing software solutions across sectors including automotive, aerospace and defence, industrial manufacturing, med-tech, electronics, and retail. The company claims it works with 90% of Fortune 500 automotive OEMs globally.
Saini highlighted that PTC’s key strength lies in creating a unified data foundation across the product lifecycle, enabling companies to integrate engineering, manufacturing, and service functions on a single platform. The company is also focused on open architecture systems, multi-CAD interoperability, and organisational change management to support large-scale digital transformation initiatives.
Headquartered in Massachusetts, PTC is listed on NASDAQ, with a market capitalisation of around $32 billion and annual revenue of approximately $2.48 billion. The company employs over 7,500 people globally, with nearly 32% of its workforce based in India. It also operates one of its major research and development centres in Pune.
