Indian Auto Industry on the Verge of Transformation: Gadkari Envisions Leading the World in Sustainable Mobility

New Delhi (10th September 2024): At the 64th Annual Convention of the Society of Indian Automobile Manufacturers (SIAM) held in 2024, the spotlight was on the future of India’s automotive sector as it embraces sustainability. Chief Guest Nitin Gadkari, Minister of Road Transport and Highways, and Guest of Honour HD Kumaraswamy, Minister of Heavy Industry and Steel, set the tone for the event with compelling addresses.

Nitin Gadkari underscored the pivotal role of the automobile industry in India’s economic development. “As the world’s fifth-largest economy, our ambition is to rise to third place, and the automobile sector will play a crucial role in this journey,” Gadkari stated. He highlighted the sector’s significant contributions beyond just GST payments, stressing that it is integral to national growth.

Gadkari projected a bright future for India, with a vision of becoming the leading automobile manufacturing hub globally. He praised the industry’s robust growth, with a 13% increase and 4.5 million jobs, while acknowledging the challenge of air pollution, which the sector contributes to by 35%. He emphasized the need for a shift from petrol and diesel to alternative fuels, aiming for carbon neutrality by 2017.

Addressing the issue of vehicle scrapping, Gadkari introduced a new policy offering a 3% discount on new purchases for those scrapping old vehicles, aiming to turn waste into wealth. He also noted the impressive growth of electric vehicles, with a 45% increase in sales and over 400 startups in the sector. Emphasizing the importance of quality and design, he noted that today’s consumers prioritize these aspects over cost.

The convention highlighted India’s ambition to lead the global automotive industry in sustainability, innovation, and economic impact.

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