India’s auto industry will double: Union Minister Gadkari said – by the year 2024, the target is to reach the industry at Rs 15 lakh crore.
Union Road Transport and Highways Minister Nitin Gadkari has said that by the end of the year 2024, our target is to double the size of the Indian auto industry to Rs 15 lakh crore. With this, India will join the top countries of the world in this sector.
Addressing the online session of the Merchants Chamber of Commerce and Industry, Union Minister Gadkari said, “The ministry will work on projects worth five lakh crore rupees next year. Two lakh crore rupees will be raised from the government and the rest from the capital market.”
Most vehicles will run on alternative fuel by 2030
He said, “At present the auto industry is worth Rs 7.5 lakh crore. We want to take it up to Rs 15 lakh crore. This will increase huge employment opportunities in the country.” Gadkari also said that by 2030 most of the vehicles will run on alternative fuel. We are also working on developing alternative, clean and green fuels like Bio-Ethanol, Bio-CNG, Bio-LNG and Green Hydrogen. Green hydrogen will be the fuel of the future.
InvIT can do direct investment
Gadkari talked about the success of the listing of the Infrastructure Investment Trust (InvIT), which has attracted huge interest from investors. He said, “InvIT is a collective investment scheme like mutual funds. In this, individual and industrial investors can make direct investment in infrastructure projects. This scheme is a small part of the income to get returns on direct investment. enables.
We don’t have any funding problem
Responding to a question on his ministry’s investment, he said, “Small investors are getting 8% returns, which is better than banks. We don’t have any funding problem. Next year we will do Rs 5 lakh crore.” “
Will promote recycled materials in construction
Gadkari said that in the field of construction, we are focusing on increasing the quality while reducing the manufacturing cost. For this, other recyclable materials like plastic and rubber will be used as much as possible. These products will reduce the cost by reducing the use of cement and steel.
