India's Prime Minister Modi Promotes Investment in Green Mobility Sector
Key Ideas
- Prime Minister Modi highlights India as an attractive investment destination in the mobility sector, emphasizing government support and green technology.
- India focuses on developing green technology, including EVs, hydrogen fuel, and biofuels, with the aim to reduce the country's dependence on fossil fuels.
- The 'Make in India' initiative has significantly contributed to the growth of the auto industry, with the sale of EVs expected to increase eightfold by the end of the decade.
- The Bharat Mobility Global Expo 2025 showcases over 100 new launches in automobiles, components, and technologies, aiming to create a comprehensive ecosystem for mobility.
Prime Minister Narendra Modi of India emphasized the country's potential as an investment destination in the mobility sector during the inauguration of the Bharat Mobility Global Expo 2025 in New Delhi. Modi assured investors of government support and highlighted the development of green technology, including electric vehicles (EVs), hydrogen fuel, and biofuels. He praised the 'Make in India' initiative for driving growth in the auto industry and announced that the sale of EVs is projected to increase eight times by the end of the decade.
The government is working towards a mobility system that supports both the economy and ecology while reducing the country's reliance on fossil fuels. Modi mentioned that the 'Make in India' initiative, along with the production linked incentive (PLI) scheme, has boosted sales in the sector and created numerous direct jobs. Additionally, he stressed the importance of infrastructure development for ease of travel, with a significant budget allocated for this purpose.
Modi encouraged corporate investments in the sector, citing factors like the growing middle class, urbanization, quality infrastructure, and affordable vehicles that will drive the automobile industry forward. He highlighted the need to establish a complete ecosystem for mobility and mentioned the opportunity for investing in battery storage systems in India.
The Bharat Mobility Global Expo 2025, held across multiple venues, is set to showcase a wide range of new launches in automobiles, components, and technologies, with the goal of bringing together various stakeholders in the mobility ecosystem. The expo aims to facilitate collaboration and innovation in the sector, aligning with the government's vision for a sustainable and technologically advanced mobility landscape.
Topics
India
Investment
Green Technology
EVs
Infrastructure Development
Expo
Auto Industry
Battery Storage
Make In India
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