Prime Minister Narendra Modi, speaking at the India Mobility Global Expo in New Delhi on Friday, offered government support “at every level” in the world’s third-largest car market, focusing on the “future of mobility” from all sectors. Investment encouraged. , He stressed that the government is putting in place the right policy framework to promote the development of the sector.
“We have a clear vision: to develop a comprehensive ecosystem for the auto sector in India. We are supporting FDI, technology transfer and global partnerships in the industry, Prime Minister Modi said, adding that the sector has attracted $36 billion of FDI in the last four years and India has become a destination for those aiming to pursue mobility. Is set as ‘destination’. ,
Modi also reiterated the government’s commitment towards the energy transition, stressing the need for a focused approach to battery manufacturing. He reaffirmed the government’s dedication towards electric vehicles (EVs), green technologies and biofuels.
Prime Minister Modi urged the industry to focus on strengthening India’s battery sector by using indigenous technology, saying, “This is the right time for significant investment in this sector.” “We must innovate in battery and storage systems from readily available materials,” he said. “We will introduce the right policies, but the industry has to take advantage of the opportunities they present.”
Modi highlighted that the PLI scheme has already created more than 150,000 jobs, emphasizing India’s unique opportunity for the industry as a young, fast-growing economy. “Many factors are driving India’s mobility, including a growing middle class, rapid urbanization, improved infrastructure, affordable vehicles and a large youth population. India has the necessary elements for development – need and aspiration.
“The future belongs to the East, to Asia, to India. The journey towards a developed India will include substantial expansion of the auto industry. Growth in India is opening up vast opportunities for the sector,” he concluded.
