PMINDIA

My colleagues in the Union Cabinet, Shri Nitin Gadkari Ji, Jitan Ram Manjhi Ji, Manohar Lal Ji, H.D. Kumaraswamy Ji, Piyush Goyal Ji, Hardeep Singh Puri Ji, all the stalwarts of the auto industry from India and abroad, other guests, ladies and gentlemen!

The last time I came amongst you, the Lok Sabha elections were not far away. At that time, due to the trust of all of you, I had said that I will definitely come to the India Mobility Expo next time too. The country blessed us for the third time. All of you have once again invited me here, I express my gratitude to all of you.

Friends,

I am happy that this year, the scope of India Mobility Expo has increased a lot. Last year, more than 800 exhibitors participated, more than 1.5 lakh people visited, this time along with Bharat Mandapam, this expo is also being held in Yashobhoomi in Dwarka and India Expo Center in Greater Noida. A large number of people will come here in the coming 5-6 days. Many new vehicles are also going to be launched here. This shows how much positivity there is about the future of mobility in India. I have also got the opportunity to visit and see some exhibitions here. India’s automotive industry is fantastic as well as future ready. I wish all of you my very best wishes.

Friends,

In such a big event in India’s auto sector, I will also remember Ratan Tata ji and Osamu Suzuki ji today. Both these great men have contributed a lot in the growth of India’s auto sector and in fulfilling the dreams of the middle class. I am confident that the legacy of Ratan Tata ji and Osamu Suzuki ji will continue to inspire the entire mobility sector of India.

Friends,

Today’s India is full of aspirations, full of youthful energy. We see these aspirations in India’s automotive industry. In the past year, India’s auto industry has grown by around 12 percent. Following the mantra of Make in India, Make for the World, exports are also increasing now. The population of many countries of the world is not as much as the number of vehicles being sold in India every year. Nearly 2.5 crore vehicles being sold in a year shows how the demand is constantly increasing in India. This shows why India is being looked up with so much hope when it comes to the future of mobility.

Friends,

Today, India is the fifth largest economy in the world. And if we look at it as a passenger vehicle market, we are number 3 in the world. Just imagine where our auto market will be when India will be among the top three economies of the world? The journey of a developed India is also going to be a journey of unprecedented transformation and multifold expansion of the mobility sector. There are many factors that drive the future of mobility in India. For example, India’s largest youth population, the ever-growing scope of the middle class, rapid urbanization, modern infrastructure being built in India, affordable vehicles from Make in India, all these factors are going to push the growth of the auto sector in India, are going to give it new strength.

Friends,

Needs and aspirations are very important for the development of the auto industry. And fortunately, both are vibrant in India today. India is going to remain the youngest country in the world for the next several decades. This youth is your biggest customer. You can well estimate how big a demand such a large youth group will create. Another big customer of yours is the middle class of India. In the last 10 years, 25 crore Indians have come out of poverty. This neo middle class is buying its first vehicle. As progress happens, they will also upgrade their vehicles. And the auto sector is sure to benefit from this.

Friends,

Lack of good, wide roads was once a reason for not buying vehicles in India. Now this situation is also changing. Ease of travel is a big priority for India today. More than 11 lakh crore rupees were allocated for infrastructure development in last year’s budget. Today, a network of multi-lane highways and expressways is being laid in India. Multimodal connectivity is gaining momentum through the PM Gatishakti National Master Plan. This is reducing logistics costs. Due to the National Logistics Policy, India is going to be the country with the most competitive logistics costs in the world. Due to all these efforts, many new doors of possibilities are opening for the auto industry. This has also been a big reason behind the increasing demand for vehicles in the country.

Friends,

Today, along with good infrastructure, new technology is also being integrated. Fastag has made the driving experience in India much easier. The National Common Mobility Card is further strengthening the efforts for seamless travel in India. Now we are moving towards smart mobility. India is also working rapidly in the direction of connected vehicles and autonomous driving.

Friends,

The strength of Make in India also plays a major role in the growth prospects of the auto industry in India. The Make in India campaign has got a new impetus from the PLI schemes. The PLI scheme has helped in sales of more than Rs 2.25 lakh crore. More than 1.5 lakh direct jobs have been created in this sector through this scheme alone. As you know, you not only create jobs in your sector, it also has a multiplier effect in other sectors. Our MSME sector manufactures a large number of auto parts. When the auto sector grows, new jobs automatically start increasing in MSMEs logistics, tour and transport sectors as well.

Friends,

The Indian government is supporting the auto sector at every level. In the last decade, new avenues of FDI, technology transfer and global partnership have been created in this industry. In the last 4 years, more than Thirty Six Billion Dollar Foreign Direct Investment has come in this sector. In the coming years, it is going to increase many folds. Our effort is to develop the entire ecosystem related to auto manufacturing in India itself.

Friends

I remember, I discussed the vision of Seven-Cs in a program related to mobility. Our mobility solutions should be common, connected, convenient, congestion-free, charged, clean, and cutting-edge. Our focus on green mobility is a part of this vision. Today we are engaged in building such a mobility system that supports both the economy and ecology. A system that reduces our import bill of fossil fuels. Therefore, today we are very focused on the development of Green Technology, EVs, Hydrogen Fuel, Biofuels, such technologies. Campaigns like National Electric Mobility Mission and Green Hydrogen Mission have been started with this vision.

Friends,

For the last few years, India has witnessed rapid growth in electric mobility. In the last decade, electric vehicle sales have increased by 640 times. Ten years ago, only around 2600 electric vehicles were sold in a year, but in the year 2024, more than 16 lakh 80 thousand vehicles have been sold. That is, today twice as many electric vehicles are being sold in a single day as were sold in a whole year 10 years ago. It is estimated that by the end of this decade, the number of electric vehicles in India can increase up to 8 times. This shows how much the possibilities are increasing for you in this segment.

Friends,

The government is constantly taking policy decisions to expand electric mobility in the country, supporting the industry. The FAME-2 scheme was started 5 years ago. Under this, incentives of more than 8 thousand crores have been given. From this amount, a subsidy was given for purchasing electric vehicles, and charging infrastructure was built. This supported more than 16 lakh EVs, out of which more than 5 thousand are electric buses. Here in Delhi also, more than 1200 electric buses provided by the Government of India are running. In our third term, we have brought the PM E-Drive Scheme. Under this, help will be given to buy about 28 lakh EVs like two-wheelers, three-wheelers, e-ambulances, e-trucks. About 14 thousand electric buses will also be purchased. More than 70 thousand fast chargers will be installed for different vehicles across the country. In the third term itself, the PM e-bus service has also been started. Under this, the central government will provide assistance to run about thirty eight thousand e-buses in small cities of the country. The government is continuously supporting the industry for EV manufacturing. Paths have also been created for global investors who want to come to India for EV car manufacturing. This will help in expanding the quality EV manufacturing ecosystem in India and building the value chain.

Friends,

To deal with the challenge of global warming and climate, we have to continue promoting solar power and alternative fuel. India has emphasized a lot on a green future during its G-20 presidency. Today, along with EV, work is going on at a very large level regarding solar power in India. A big mission of rooftop solar is going on with PM Suryaghar- Free Electricity Scheme. In such a situation, the demand for batteries and storage systems is going to increase continuously in this sector as well. The government has started a PLI scheme of Rs 18 thousand crore to promote advanced chemistry cell battery storage. That means this is the right time for you to make big investments in this sector. I will also invite more and more youth of the country to start up in the energy storage sector. We have to work on such innovations that can make batteries and storage systems from the material available in India itself. A lot of work is also being done in the country regarding this, but it is important to take it forward on mission mode.

Friends,

The intent and commitment of the Central Government is very clear. Whether it is to make new policies or to make reforms, our efforts are continuing. Now you have to take them forward, take advantage of them. Now there is a vehicle scrapping policy. I urge all the manufacturers to take advantage of this policy. You can also bring an incentive scheme in your company. With this, more and more people will come forward to scrap their old vehicles. This motivation is very important. This will also be a great service from your side for the environment of the country.

Friends,

The automotive industry is innovation driven and technology driven. Be it innovation, tech, skill or demand, the future belongs to the East, Asia and India. India is a great destination for every sector that sees its future in mobility and also for investors. I assure you all again that the government is with you in every way. Keep moving ahead with the mantra of Make in India, Make for the World. Best wishes to all of you once again.

Thank you!