Union Minister Nitin Gadkari stated on Saturday that India’s automobile industry is set to become the largest in the world within the next five years. He highlighted that the industry has already created 4.5 crore jobs, the highest in the country. Speaking at a Federation of Automobile Dealers Association (FADA) event, Gadkari emphasised the strong global demand for Indian automobile products.
“The Indian automobile industry is currently valued at Rs 22 lakh crore, and I am confident that within five years, it will be number one globally,” he said. At present, the US automobile industry is valued at Rs 78 lakh crore, followed by China at Rs 47 lakh crore, with India at Rs 22 lakh crore.
Gadkari also reflected on the growth of the sector, noting that when he assumed the transport ministry in 2014, the industry was valued at Rs 7.5 lakh crore. “Today, it stands at Rs 22 lakh crore,” he added.
The minister further pointed out that the automobile industry has created 4.5 crore jobs, contributing the highest revenue to both state governments and the central government through GST. He also mentioned that 50 per cent of all motorcycles manufactured in India are exported.
(With PTI Inputs)