New Delhi:Prime Minister Narendra Modi on Friday highlighted India's growing significance as a global destination for investors in the mobility sector, offering government support for future ventures.
Inaugurating the Bharat Mobility Global Expo 2025 at Bharat Mandapam, PM Modi said that India is focusing on the development of green technology, electric vehicles (EVs), hydrogen fuel and biofuels. He said India's focus on these sustainable solutions would help shape a future-ready mobility system.
Emphasising that the strength of the 'Make in India' initiative fuels the growth prospects of the country's auto industry, he said the sale of EVs is set to increase eight times by the end of the decade.
Modi said the government is working on a mobility system which can support the economy and ecology, and create a system which can reduce the country's bill on the import of fossil fuels. He said the 'Make in India' initiative has played a huge role in the development of the auto industry.
The initiative has got a push from the PLI (production-linked incentive) scheme which has helped in the sales of more than Rs 2.25 lakh crore in the sector. This scheme has created more than 1.5 lakh direct jobs in the automobile sector.
The Prime Minister said that the ease of travel is a top priority for India citing recent budget allocation of more than Rs 11 lakh crore for infrastructure development, including expanded highways and multi-lane networks.
Noting the 12 per cent annual growth in India's automotive sector last year, the Prime Minister emphasised that India's auto industry is both dynamic and future-ready. He encourages businesses to invest, highlighting factors such as the growing middle class, rapid urbanisation, improved infrastructure, and affordable vehicles, which will fuel the sector's growth.
PM Modi also called for investment in battery storage systems, positioning India as a prime opportunity for this emerging technology.
He also said it is the right time to invest in battery storage systems in India. The five-day expo which is being held across three venues -- Bharat Mandapam and Yashobhoomi in the national capital and India Expo Center and Mart, Greater Noida -- is expected to witness over 100 new launches across automobiles, component products and technologies.
The Bharat Mobility Global Expo 2025, scheduled from January 17-22, will bring the entire value chain of the mobility ecosystem -- from automobile manufacturers to components, electronics parts, tyre and energy storage makers, and automotive software firms and material recyclers -- under a single umbrella.
