Hyundai Motor India (HMIL) on Wednesday signed a wage settlement agreement with its employees’ union for a salary hike of ?31,000 per month, phased over a three-year period till 2027.
In a statement, the country’s second-largest carmaker said the wage hike will be structured in the ratio of 55%, 25%, and 20% between April 1, 2024 and March 31, 2027. The agreement was signed between the company and its recognised union, the United Union of Hyundai Employees (UUHE).
Hyundai’s official statement on the wage agreement
The carmaker said that besides salary increase, it continues to set benchmarks in employee welfare through comprehensive health coverage and advanced wellness programmes. ”At Hyundai, our people are the cornerstone of our success. This agreement, built on mutual trust, respect, and constructive dialogue, reflects our shared commitment to fostering a progressive workplace culture that prioritises employee welfare and supports long-term organisational growth,” said Youngmyung Park, function head- people strategy, HMIL.
All about the Hyundai’s wage pact
Prior to this, Hyundai signed a long-term wage agreement with the union in July 2022, covering the period from April 1, 2021 to March 31, 2024. UUHE, registered in 2011, has 1,981 members as of August 31, 2025, covering 90% of the technician/workmen cadre. Shares of Hyundai Motor India closed 2% higher at RS 2,650.40 on the NSE.