New Delhi, November 28: Union Transport Minister Nitin Gadkari announced the government’s ambitious plan to make India the world’s largest automobile industry within the next five years, surpassing China and the United States. Currently, India ranks third globally, with a market size of ₹22 lakh crore, behind China’s ₹47 lakh crore and the US at ₹78 lakh crore.
Speaking at the ‘Times Green Drive Conclave and Awards 2024,’ Gadkari highlighted India’s rapid economic growth and the automotive sector’s pivotal role in the country’s vision of self-reliance.
“Our mission and dream are to make the Indian automobile industry the world’s largest within five years. This industry is crucial to the vision of Atmanirbhar Bharat,” Gadkari stated.
He underscored the industry’s contributions, noting that it is India’s leading exporter, the top GST revenue contributor to both state and central governments, and a significant job creator, employing 4.5 crore people.
Gadkari emphasized the need for adopting alternative fuels to reduce dependence on fossil fuel imports, which cost India ₹22 lakh crore annually and contribute significantly to pollution.
“Pollution is a pressing concern. Without reducing fossil fuel imports, the air pollution problem cannot be resolved,” he noted.
He pointed out the potential of alternative fuels such as ethanol, methanol, biodiesel, bio-LNG, electric vehicles, and hydrogen. The minister also proposed utilizing surplus food grains in India to produce biofuels, describing them as cost-effective, pollution-free, indigenous, and import substitutes.
“By focusing on alternative fuels, we can benefit the agriculture sector, rural areas, and tribal regions by increasing their income while simultaneously addressing environmental concerns,” Gadkari said.
Highlighting his personal commitment to green energy, the minister revealed that he drives a hydrogen-powered car.
India’s automobile industry is set to play a key role in advancing green technology and economic growth, aligning with the nation’s goals for a sustainable and self-reliant future.