Road Transport and Highways Minister Nitin Gadkari has said that the automobile industry is growing at a pace of over 10 percent. Addressing the 5th edition of the Auto Retail Conclave by Federation of Automobile Dealers Associations of India, Mr Gadkari said, due to developed road infrastructure and green highways, the demand in the automobile industry is skyrocketing.
The Minister said this industry has given jobs to 4.5 crore youth of the country. Further, he noted, the government has decided to make India, world’s number one automobile manufacturing hub and for that world renowned automobile brands are present in India.
Appreciating the work of the automobile industry, Mr. Gadkari said that India is the 6th largest manufacturer of passenger vehicles, 4th largest manufacturer of commercial vehicles, 2nd largest manufacturer of two wheelers and largest manufacturer of three wheelers.
Talking about the circular economy, the Minister said the government has launched scrapping policy and testing certifications. He added that these policies will increase India’a growth, employment, and export potential.
The Union Minister informed that India will soon use bio-aviation fuel. Mr Gadkari said the Global Biofuel Alliance formed during the G20 summit is an effort to propel the use of biofuel and alternative fuel for curbing pollution.
He emphasised that the automobile sector stakeholders will play an important role in making India a 5 trillion dollar economy. He said, India is giving priority to import substitution, indigenous technology and alternative fuel to strike a fine balance between industry expansion and environment conservation.