Prime Minister Narendra Modi on Friday said both demand and aspiration are important for the growth of the auto industry and fortunately both are vibrant in India.
Speaking at the Bharat Mobility Global Expo 2025, PM Modi said, “For the growth of the auto industry, both need and aspiration are very important, and fortunately, both are vibrant in India today. For the coming decades, India will remain the world’s youngest country. This youth will be your largest customer. You can well estimate the enormous demand this large youth segment will create. Another customer is India’s middle class. Over the past 10 years, 250 million Indians have moved out of poverty.
This neo-middle class is purchasing their first vehicle. As progress continues, they will also upgrade their vehicles, and the auto sector is sure to benefit from this.”
He also said that the country’s journey towards becoming a developed nation will be marked by unparalleled transformation and exponential growth in the auto sector.
“The journey of a developed India will also be one of unprecedented transformation and exponential growth in the mobility sector. Several factors are driving the future of mobility in India, such as the country’s largest youth population, the expanding middle class, rapid urbanization, the modern infrastructure being built in India, and affordable vehicles from the ‘Make in India’ initiative. All these factors will push and empower the growth of the auto sector in India,” he said.
PM Modi said that today the country is full of aspirations and youth energy, and these aspirations are visible in India’s automotive industry.
“Today’s India is full of aspirations and youth energy, and these aspirations are clearly visible in India’s automotive industry. Over the past few years, India’s auto industry has grown by about 12 per cent.
Following the mantra of ‘Make in India, Make for the World,’ exports are also increasing. There are countries whose total population is less than the number of vehicles seen in India each year. With around 25 million vehicles sold annually, it shows how demand is steadily increasing in India. This is why when it comes to the future of mobility, India is seen with such high hopes,” PM Modi said.
The theme for Bharat Mobility Global Expo 2025 is “Beyond Boundaries: Co-creating Future Automotive Value Chain.” This vision aims to foster collaboration and innovation across the automotive and mobility sector, emphasizing sustainable and cutting-edge technological advancements.
The Expo is being held from January 17-22, across three separate venues: Bharat Mandapam and Yashobhoomi in New Delhi and India Expo Center and Mart, Greater Noida.
The Expo will host over 9 concurrent shows, 20+ conferences and pavilions. In addition, the Expo will also feature state sessions to showcase policies and initiatives in the mobility sector to enable collaboration between industry and regional levels.
Bharat Mobility Global Expo 2025 aims to unite the entire mobility value chain under one umbrella.
This year’s expo will have a special emphasis on global significance with participation from across the globe as exhibitors and visitors. It is an industry-led and government-supported initiative and is being coordinated by the Engineering Export Promotion Council of India with the joint support of various industry bodies and partner organizations. (ANI)
