'India to be number 1 auto hub in 5 years'

'india to be number 1 auto hub in 5 years'

‘India to be number 1 auto hub in 5 years’

India will become the number one automobile manufacturing hub in the world by 2029 and the country will be the third largest economy, road transport and highways minister Nitin Gadkari said on Friday.

The government’s focus going forward will be to build a world-class road network, move to alternative fuels and bring down logistics costs in the country, Gadkari added.

“One thing is very clear: if we need capital investment, development and industry, we should have good infrastructure, water, power, transport and communication,” he said. “Without that, we cannot develop our agriculture, service industry and tourism.”

Talking about the potential of the auto industry, Gadkari said, “We have all products and all major players present in the country. The automobile industry will give majority strength to the Indian economy and we will be Atmanirbhar Bharat and we will be the third largest economy in the world in the next five years.”

107566805

According to him, Prime Minister Narendra Modi accorded the highest priority to development of infrastructure in the country after forming the government in 2014.

“To achieve the dream of PM Modi to make India the third largest economy in the world, we need to develop world standard infrastructure in the country,” Gadkari said. By the end of 2024, the country’s national highway network will be equivalent to the road network of the USA, he added.

He said his focus is to improve the quality of Indian roads and transition to alternate fuels to bring down the logistics cost in the country to single digit.

Outlining his vision for infrastructure development, Gadkari said his ministry is building 36 expressways, which will reduce the travel time between Delhi and Dehradun to two hours, Delhi and Jaipur to two hours, Delhi to Mumbai to 12 hours, Chennai to Bangalore to two hours and Bangalore to Mysore to one hour. Also, the distance between Delhi and Chennai will be reduced by 320 kilometres, he said.

Gadkari said he is not dependent on government funding for his infrastructure vision. “I don’t want to make roads from investments from wealthy people. Instead, I will give an assured return of 8.05% per annum to small investors who invest in our bonds and every month the interest is credited in their account,” he said.

The National Highways Authority of India has AAA rating and there is no dearth of funds, he added.

“Whatever work has been done in the road sector so far was the trailer. Asli film to abhi baaki hai,” the minister said.

He said India will diversify to alternate fuels to reduce import of fossil fuel, which stands at ₹16 lakh crore per year. “So, our policy is very simple – diversification of agriculture towards energy powers, so that our kisans are no longer ‘anna daata’ but ‘urja daata’, ‘bitumen daata’ and ‘hawaii indhan daata’ or sustainable aviation fuel,” Gadkari said.

He said the government is working on a project in Panipat with Indian Oil Corporation where they are using rice straw to make 100,000 litres of ethanol and 150 tonnes of bio-bitumen every day, and 76,000 tonnes of bio-aviation fuel per year.

“By changing the fuel and by making good roads, I am confident that by the end of 2024, our logistic cost will be in single digit (around 9%), which will increase our export at least one and a half times and that is to me the most important thing,” he said.

Highlighting the need to reduce logistic cost in the country, Gadkari said the logistic cost in China is 8-10% of goods while it is 12% in European countries and the USA. However, in India, it goes up to 16%.

Asserting that a lot of development work has taken place in the country during the 10 years of the Modi government, Gadkari said the NDA alliance believes in the politics of progress and development and will again get majority in 2024 general elections due in April-May.

“Under the leadership of Prime Minister Narendra Modi, we will again get a majority and form the government,” he said, adding that people rise above caste, creed, sex, religion and language and vote for good work.

For more news like this visit The Economic Times.

News Related

OTHER NEWS

Guru Nanak Jayanti: Rishi Sunak Highlights Punjabi Heritage In Message, Trudeau Extends Greetings

In a greeting from 10 Downing Street on the occasion of Guru Nanak Jayanti, British Prime Minister Rishi Sunak mentioned his Punjabi Indian origin, news agency PTI reported. The 43-year-old ... Read more »

What US easing sanctions on Venezuela, home to world’s largest oil reserves, could mean for India

This report is the second of a three-part series on recent Indian engagement in the Latin American and Caribbean (LAC) region. New Delhi: The US’ decision last month to ease ... Read more »

Rajshri Deshpande dedicates OTT award to innocent lives lost in Gaza, Palestine

Rajshri Deshpande dedicates OTT award to innocent lives lost in Gaza, Palestine Actor and social worker Rajshri Deshpande won the Best Actor, Series (Female) award for Netflix’s ‘Trial By Fire’. ... Read more »

‘Ramchandra Keh Gaye…’: From Jan 1, RSS to Spread Word of God, Ayodhya Inauguration Among 10 Crore People

‘Ramchandra Keh Gaye…’: From Jan 1, RSS to Spread Word of God, Ayodhya Inauguration Among 10 Crore People In its effort to take the Ram Janmabhoomi message to households across ... Read more »

Ace designer Rohit Bal critical, on ventilator: report

Ace designer Rohit Bal critical, on ventilator: report Celebrated fashion designer Rohit Bal is in critical condition and is on ventilator support, HT City reported, quoting sources. He has been ... Read more »

Bengaluru: Traffic Advisory Issued, Parking Restrictions In Place As Samyukta Horata Samiti Holds Protest | Details

Bengaluru: Traffic Advisory Issued, Parking Restrictions In Place As Samyukta Horata Samiti Holds Protest | Details The Bengaluru Traffic Police has issued a traffic advisory for November 27 and 28 ... Read more »

Vistara Flights Diverted Due To Air Congestion At Delhi Airport | DETAILS

vistara flights diverted due to air congestion at delhi airport | details Delhi: Two Vistara flight has been diverted to Lucknow and Jaipur due to bad weather and air congestion ... Read more »
Top List in the World