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Indian Car Makers Will Beat US And Chinese Automakers Within 5 Years: Nitin Gadkari
India’s Auto Industry Poised to Surpass US and China in Next 5 Years: Nitin Gadkari
Union Minister for Road Transport and Highways, Nitin Gadkari, has expressed confidence that India’s automobile industry will outpace the United States and China to become the world’s largest within the next five years. Speaking at the Amazon Smbhav Summit, Gadkari highlighted the sector’s significant growth, noting an increase from ₹7 lakh crore to ₹22 lakh crore since he assumed office.
Gadkari emphasized that the Indian automobile industry has become the third-largest globally, surpassing Japan. He attributed this growth to the sector’s contribution to employment, generating approximately 4.5 crore jobs, and its substantial share in the Goods and Services Tax (GST) revenue.
In addition to aiming for global leadership in automobile manufacturing, Gadkari outlined plans to reduce logistics costs in India. Currently at 16%, the goal is to bring it down to 9% within two years, aligning with global standards and enhancing the competitiveness of Indian manufacturers. ​
The minister also highlighted India’s ambition to become the world’s leading manufacturer of electric vehicles (EVs) by 2030. He noted the increasing popularity of EVs and decreasing battery costs as key factors driving this transition. ​
With these strategic initiatives, India is positioning itself to become a global hub for automobile manufacturing, aiming to surpass current leaders in the industry.
Key Highlights:
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Current Industry Valuation: ₹22 lakh crore
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Global Ranking: 3rd largest automobile market
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Employment Contribution: Approximately 4.5 crore jobs
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Logistics Cost Reduction Target: From 16% to 9% within two years
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EV Manufacturing Goal: World’s largest by 2030
