Nitin Gadkari Shares Plans To Make India Top Car Market

The Indian government has set a goal of reaching Rs 25 lakh crore for its automobile sector as part of its vision to achieve a USD 5 trillion economy, according to Union Minister Nitin Gadkari. This target is significant as it follows the government's announcement last February to double the auto industry's size to Rs 15 lakh crore by the end of 2024. Speaking at the Vibrant Gujarat summit, Gadkari highlighted the aim to make India's automobile industry the world's leading one and noted Gujarat's potential as a hub for electric vehicles. He pointed out the industry's growth from being the world's seventh-largest a decade ago to its current third position. The auto sector now contributes 7-8% to the national GDP, up from 2.7% in 1992-93, and provides employment to over 19 million people. In global manufacturing output, India ranks second in two-wheelers, seventh in commercial vehicles, third in passenger vehicles, and is the largest in tractor production.