Gadkari’s announcement – target of doubling the size of the vehicle industry to Rs 15 lakh crore in two years
In its efforts to make India a global hub of automobile manufacturing, the Center has set an ambitious target of helping double the growth of the sector in the next two years. Minister of Road Transport and Highways (MORTH) Nitin Gadkari said that the government will provide the auto industry Rs. 15 lakh crores, making it one of the top countries in the world in the auto sector. Nitin Gadkari has said many times before that his aim is to make the Indian automobile sector number one in the world.
Gadkari also said that his ministry will work on projects worth five lakh crore rupees next year. In this, two lakh crore rupees will be raised from the government and the remaining capital will be raised from the market.
Most vehicles will run on alternative fuels by 2030
Addressing an online session of the Udyog Mandal Merchants Chamber of Commerce and Industry, he said, “At present the size of the automobile industry is Rs. 7.5 lakh crore and we will increase it by 2024 to Rs. We want to do 15 lakh crores. With this, India has become a leader in the world in this field. Will be included in the top countries.
Gadkari also said that by 2030 most vehicles will run on alternative fuels.
“We are also working on developing alternative, clean and green fuels such as bio-ethanol, bio-CNG, bio-LNG and green hydrogen,” he added. Gadkari said that green hydrogen would be the fuel of the future.
InvIT can invest directly
Talking about the success of the listing of Infrastructure Investment Trust (InvIT), Gadkari said, “InvIT is a collective investment scheme just like a mutual fund. It allows individual and industrial investors to invest directly in infrastructure projects. These schemes generate income. Enables direct investment to earn returns from fractions of Rs.
funding is not a problem
Responding to a question on investment by the Ministry of Road Transport and Highways, he said, “Small investors are getting 8 per cent returns, which is better than banks.” We don’t have any funding problems. Next year we will spend Rs. We will invest 5 lakh crores. “Will Work.”
Recycled content will be encouraged
Gadkari said that in the construction sector, we are focusing on reducing the cost of construction and increasing the quality. For this, other recyclable materials like plastic and rubber will be increasingly used. These products will reduce the cost by reducing the consumption of cement and steel.