NEW DELHI: Prime Minister Narendra Modi on Friday said that India stands as an outstanding destination for investors looking to shape their future in the mobility sector. He also ensured all the necessary government support to investors in the world’s third-largest car market.
“We want to develop a total ecosystem for the auto sector in India. We are supporting FDI, technology transfer and global partnerships in the auto sector,” Modi said after inaugurating the Bharat Mobility Global Expo 2025 at Bharat Mandapam, New Delhi.
He informed that the sector attracted $36 billion in FDI over the last four years and India is the ‘destination’ for anyone who wants to work in the mobility sector.
Encouraging corporates to invest more, Modi said the rising middle class, rapid urbanisation, high quality infrastructure development, and affordable vehicles are going to push the automobile sector. The endeavour is to develop a complete ecosystem for mobility, the PM added.
“The coming time belongs to the East, to Asia, to India. The journey to a developed India will involve a multiplication of the auto industry in India. The growth in India is opening doors of opportunity for the auto industry,” said Modi.
The PM pointed out that ten years ago, only 2,600 EVs were sold in the country and today more than that get sold every day. Modi said the government is working on a mobility system that can support the economy and ecology, and create a system that can reduce the country’s bill on the import of fossil fuels.