India is emerging as a premier location for investors aiming to make a significant impact in the mobility sector, stated Prime Minister Narendra Modi on Friday, who pledged comprehensive government backing for investors. During his address at the inauguration of the Bharat Mobility Global Expo 2025 at Bharat Mandapam, the Prime Minister highlighted India’s commitment to advancing green technologies, electric vehicles (EVs), hydrogen fuel, and biofuels.
Highlights
Key Points from Prime Minister Modi’s Address
Growth of the Automobile Industry
– The ‘Make in India’ initiative is a vital driver for the expansion of India’s automotive sector.
– Forecasts indicate that the sale of EVs is projected to rise eightfold by the end of the decade.
– The government is focused on creating a mobility framework that enhances both economic and environmental sustainability, aiming to decrease fossil fuel import expenses.
Impact of the Production-Linked Incentive Scheme
– The ‘Make in India’ initiative has been instrumental in the progress of the automotive industry.
– The Production-Linked Incentive (PLI) scheme has facilitated sales exceeding Rs 2.25 lakh crore within the sector.
– This initiative has generated over 150,000 direct employment opportunities in the automotive field.
Infrastructure Development
– Enhancing travel ease is a significant priority for India. In the recent budget, more than Rs 11 lakh crore was allocated for infrastructure development, contributing to the expansion of multi-lane roads and highways.
Future of India’s Automotive Sector
– Modi expressed confidence in India’s automotive industry, which achieved a remarkable annual growth rate of 12% last year, alongside a substantial increase in exports.
– He encouraged corporate investments, citing the expanding middle class, rapid urbanisation, quality infrastructure advancements, and accessible vehicles as key factors propelling the automotive industry.
– The goal is to cultivate a comprehensive ecosystem for mobility.
Battery Storage Investment
– The Prime Minister underlined that now is an opportune moment to invest in battery storage systems in India.
Bharat Mobility Global Expo 2025
The five-day expo, taking place across three locations—Bharat Mandapam and Yashobhoomi in the national capital, along with the India Expo Center and Mart in Greater Noida—is anticipated to showcase over 100 new product launches across various categories including automobiles, components, and advanced technologies.
The Bharat Mobility Global Expo 2025, scheduled from January 17-22, aims to unify the entire mobility ecosystem value chain—from automobile manufacturers and component suppliers to electronics, tyre producers, energy storage companies, automotive software developers, and recycling firms—under a cohesive framework.
