Tesla coming, India will be automobile manufacturing hub in 5 years, says Nitin Gadkari

Updated : March 18, 2021 03:19:43 IST

Union Minister of Road Transport and Highways Nitin Gadkari on Thursday said that India will become an automobile manufacturing hub in five years. Gadkari made the statement in the Lok Sabha during the ongoing Budget Session.

"Tesla is coming to India. India will be an automobile manufacturing hub in 5 years," Gadkari said.

Listing out the benefits of the scrappage policy, Gadkari said that it will be good for both the economy and the environment. "Scrapping centres will benefit automobile manufacturers and component makers. Vehicle recycling will reduce the cost of components for the automobile industry."

Gadkari appealed to the MPs to switch to electric and bio-fuels.

"We are encouraging ethanol, hydrogen, CNG and bio-fuel also. Within a year, lithium-ion batteries will be 100 percent 'Made in India'. Within two years, the cost of electric two-wheelers will be equivalent to petrol two-wheelers," Gadkari said.

Gadkari also appealing to all OEMs (Original Equipment Manufacturer) to give a five percent discount in return for a scrapping certificate. He claimed that 3.7 crore people will benefit directly and indirectly because of the policy.

Gadkari said India has 51 lakh light motor vehicles which are older than 20 years, 34 lakh light motor vehicles which are older than 15 years, and 17 lakh medium and heavy commercial vehicles which are older than 15 years and without a valid fitness certificate.

Published : March 18, 2021 01:45 PM IST

Tesla coming, India will be automobile manufacturing hub in 5 years, says Nitin Gadkari

You May Also Like

HCL Tech Q4 net dips 6.1% to Rs 2,962 crore; co confident of double-digit revenue growth in FY22

Karnataka to purchase 1 crore Covishield doses; no decision on free vaccination yet, says Deputy CM

Panasonic to buy US supply-chain software firm Blue Yonder for $7.1 billion

Trending on CNBC-TV18

recommended for you