Automobile industry is the growth engine of Indian economy: Nitin Gadkari at SIAM Annual Convention

Delhi, Sept 15th, 2022: The Society of Indian Automobile Manufacturers(SIAM) organized its 62nd Annual Convention on Thursday at the Hotel Taj Palace in New Delhi.

SIAM Annual Convention 2022 is held with an aim to gather senior leaders from the Government, Policy Makers, and Industry Experts to deliberate and brainstorm over strategies for the future of sustainable mobility.

The key speaker of the day was Union Minister of Road Transport & Highways in India, Nitin Gadkari.

Gadkari in his speech mentioned that the automobile industry contributes remarkably and historically to the growth of India. “The role of the automobile industry is vital in fulfilling the dream of PM Modi of making India a $5 trillion economy and particularly Atmanirbhar Bharat”, he said.

He remarked that the automobile industry is providing employment to almost 4 million people and generating the maximum revenue to the government in the form of GST.

Gadkari further announced that the Indian government is developing 27 green expressways in the country with an aim to reduce travel time, pollution, and expense.

He further urges all the contributors, leaders, and manufacturers of the automobile industry to focus on products that are indigenous and made with the finest quality but at affordable prices.
“I urge everyone to create quality-centric products, not cost-centric products”, he said.

Speaking about the challenges faced by the vehicle industry, Gadkari noted that it is imperative to create alternative sources of petrol and diesel which are highly affecting the environment. “Products like bioethanol are currently in the works to replace petrol so that issues like pollution and price rise can be resolved”, he said.

Gadkari also mentioned the progress of electric vehicles in the country. He said that the government is soon launching electric buses which would cost Rs.39 per km(non-AC) and Rs. 41 per km(AC bus).

“Currently the diesel buses cost Rs115 per km. The difference in prices between diesel and electric buses is quite noteworthy. This would boost the use of electric vehicles and public transport”, he said.

The Union Minister also outlined the ongoing efforts to make use of ethanol from sugarcane as an alternative fuel and to use treated sewage water in power plants across the nation.
“I urge all countries in the world to dedicate research teams to find and develop alternative sources of petrol and diesel”, he said.

He also introduced the idea of creating vehicle-scrapping centers in India due to which scraped materials like copper, steel, aluminum, and rubber could be recycled.
“These materials are generally considered waste products but when you recycle and use them, it reduces the cost of components by 30% in manufacturing companies”, he said.

Gadkari concluded that the automobile industry, its technology, innovations, and success story is very important to achieving the aim of making India self-sufficient in the near future.