Friday, July 4, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Manufacturing

Manufacturing: Auto industry grew 12%

Fiinews by Fiinews
January 19, 2025
in Manufacturing
Reading Time: 5 mins read
A A
0
PIB

PM Modi inaugurates Bharat Mobility on 17 Jan.

0
SHARES
21
VIEWS
LinkedinShare on Twitter

0:00

Auto sector attracted over US$36bn in FDI

Indian Auto industry has grown by nearly 12% in the past year, driven by the aspirations of the people and energy of the youth, said the Prime Minister Narendra Modi at the inauguration of Bharat Mobility Global Expo 2025, the largest mobility expo in India, held 17 Jan in New Delhi.

He also reminisced Ratan Tata and Osamu Suzuki during the grand event of the Indian Auto sector, noting contributions of both the stalwarts in the growth of the auto industry in the country as well as fulfilling the dreams of middle-class Indian families.

He expressed confidence that their legacy will continue to inspire the entire mobility sector of India.

“India’s automobile sector is witnessing an unprecedented transformation,” he said, pointing out that the number of cars sold annually in India surpasses the population of many countries – the sale of approximately 2.5 crore cars in a year demonstrates the continuously growing demand in India.

The Prime Minister emphasized that this growth showcases why India is viewed with such high expectations when it comes to the future of mobility.

“India is currently the world’s fifth-largest economy and the third-largest passenger vehicle market,” Modi highlighted, underlining several factors that drive the future of mobility in India, including the country’s large youth population, the expanding middle class, rapid urbanization, modern infrastructure development, and affordable vehicles through the Make in India initiative https://sbi.com.in/.

Additionally, the Prime Minister pointed out that another major customer base is India’s middle class and over the past decade, 25 crore Indians have risen out of poverty, forming a neo-middle class that is purchasing their first vehicles. He added that as progress continues, this group will upgrade their vehicles, benefiting the auto sector.

Over Rs.11 lakh crore was allocated for infrastructure development in the last year’s budget, especially for the ease of travel is now a major priority for India https://www.makeinindia.com/home/.

“Along with good infrastructure, new technology is also being integrated,” he added.

Underlining the comprehensive support provided by the government to the auto sector at every level, Modi remarked that over the past decade, new avenues for FDI, technology transfer, and global partnerships were established in the industry.

The Prime Minister emphasized that in the last four years alone, the auto sector has attracted over US$36 billion in Foreign Direct Investment.

He reiterated the government’s commitment to developing a complete ecosystem for auto manufacturing within India.

Emphasising the rapid growth of electric mobility in India over the past few years, Modi remarked that the sale of electric vehicles has increased 640 times in the past decade. He noted that while only around 2,600 electric vehicles were sold annually ten years ago, over 16.80 lakh electric vehicles were sold in 2024.

He emphasized that the number of electric vehicles sold in a single day today is double the number sold in an entire year a decade ago. The Prime Minister projected that the number of electric vehicles in India could increase eightfold by the end of this decade, showcasing the immense potential in this segment.

Stressing on the continuous policy decisions and support provided by the government for the expansion of electric mobility in the country, the Prime Minister remarked that the FAME-2 scheme, launched five years ago, had provided incentives worth over Rs.8,000 crore https://www.globalevexpo.in/.

He emphasized that this amount was used to subsidize the purchase of electric vehicles and build charging infrastructure, supporting over 16 lakh EVs, including more than 5,000 electric buses. He noted that over 1,200 electric buses provided by the Union government were operating in Delhi.

The Prime Minister highlighted the introduction of the PM E-Drive scheme in the third term, which will support the purchase of around 28 lakh EVs, including two-wheelers, three-wheelers, e-ambulances, and e-trucks.

He informed that approximately 14,000 electric buses will also be purchased for public transport, and over 70,000 fast chargers will be installed across the country for various vehicles.

The Prime Minister noted that the PM E-Bus service has been launched in the third term to support the operation of around 38,000 e-buses in small cities across the country.

Underscoring the continuous support provided by the government for EV manufacturing, Modi remarked that pathways were created for global investors interested in EV car manufacturing in India.

He highlighted that these efforts will help expand the quality EV manufacturing ecosystem and build the value chain in India.

Stressing on the need to continuously promote solar power and alternative fuels to tackle the challenges of global warming and climate change, the Prime Minister remarked that during India’s G-20 presidency, there was a strong emphasis on a green future.

He emphasized that significant work was being done in India on both EVs and solar power. He noted that the PM Suryagarh – Free Electricity Scheme is a major mission for rooftop solar.

The Prime Minister highlighted the increasing demand for batteries and storage systems in this sector. He remarked that the Government had launched an Rs.18,000 crore PLI scheme to promote advanced chemistry cell battery storage.

Modi underlined that this was the right time for significant investments in this sector https://www.investindia.gov.in/.

He urged the youth of the country to start startups in the energy storage sector. The Prime Minister emphasized the need to work on innovations that can create batteries and storage systems using materials available in India. He noted that considerable work is already being done in this area, but it was essential to advance it in mission mode.

Over 9 concurrent shows, 20+ conferences and pavilions were held at the event held from 17-22 January, 2025, across three separate venues: Bharat Mandapam & Yashobhoomi in New Delhi and India Expo Center & Mart, Greater Noida. Fiinews.com

Tags: PMO India
ShareTweetShare

Related Posts

Air Liquide
Manufacturing

Manufacturing: Air Liquide builds ASU-CFS

by Fiinews
July 4, 2025
0
13

Renard doubling production capacity in Gujarat Paris-headquartered Air Liquide is investing in a second Air Separation Unit (ASU) and a...

NITI Aayog
Manufacturing

Manufacturing: India’s chemical sector faces challenges

by Fiinews
July 4, 2025
0
20

NITI Aayog proposes developing existing port infrastructure India’s chemical sector faces several structural challenges that constrain its global competitiveness, especially...

Ericsson

Manufacturing: India benefits form global partners

July 2, 2025
18
Greenzo Energy

Manufacturing: Greenzo to invest in electrolyser

July 1, 2025
16
RRP S4E

Manufacturing: India to get Bulgarian technology

July 1, 2025
18
Ohmium

Manufacturing: Partnership for hydrogen solutions

June 29, 2025
15
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Invest: Serendipity Space raises pre-seed round
  • Manufacturing: Air Liquide builds ASU-CFS
  • Project: Raphe mPhibr adopts French platform tech
  • Tech: TCS to be part of Singapore Smart Nation
  • Project: DAC accords AON for defence products

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.