Union Minister for Road Transport and Highways Nitin Gadkari expressed confidence about India’s automobile industry becoming the number one globally in the next five years.
Speaking at the Amazon Smbhav Summit on Tuesday, Gadkari highlighted the industry’s impressive growth, noting it has surged from Rs 7 lakh crore to Rs 22 lakh crore since he assumed office.
“Currently, the USA leads with a market size of Rs 78 lakh crore, followed by China at Rs 47 lakh crore. India, now at Rs 22 lakh crore, has significant potential,” Gadkari stated, adding, “I am confident that within 5 years, India will be the number one automobile market in the world.”
The minister pointed to the presence of leading global automobile brands in India as a clear sign of the country’s growing stature in the industry. He also outlined his ministry’s ambitious plans to enhance India’s logistics infrastructure, aiming to cut logistics costs to 9 per cent within the next two years.
“Logistics costs in India currently stand at 16 per cent, while in China it is 8 per cent, and in the USA and Europe, it is around 12 per cent. The government has set a target to reduce logistics costs, and within 2 years, we aim to bring it down to 9 per cent,” Gadkari said.
Gadkari also highlighted several infrastructure projects that will drastically reduce travel times between major cities. For instance, the journey from Delhi to Dehradun, which currently takes about nine hours, will be reduced to just two hours by January 2025. Similarly, travel times between Delhi and Mumbai, as well as Chennai and Bengaluru, are expected to see significant reductions in the near future.
In his speech, the minister emphasized the importance of adopting alternative fuels and biofuels in the country’s transportation sector. He explained that using bio-ethanol in vehicles could not only reduce fuel costs but also help lower pollution levels.
Gadkari also unveiled plans to convert organic waste into hydrogen fuel and other valuable resources using advanced recycling technologies. Highlighting the substantial municipal waste generated in Delhi, he said, “Currently, only 80 lakh tons of waste are utilized. Our vision is to convert organic waste into hydrogen. By segregating waste, we can extract petrol, plastic, metals, and glass, which can all be recycled. Additionally, we have technology that can convert waste into green hydrogen.”
Gadkari’s remarks underline the government’s commitment to transforming India’s transportation and logistics sectors, positioning the country as a global leader in both the automobile industry and sustainable energy initiatives.
(With PTI Inputs)
