Auto sector should go for need-based research to help poor: Gadkari
Minister of Road Transport and Highways Nitin Gadkari has said that the auto industry should go for need-based research, addressing issues such as fuel and engineering. He added that through such an approach, the industry can help the poor. Speaking at the silver jubilee celebration program of the Society of Automotive Engineers India in Pune, he said this approach will also help understand the country's requirements.
The minister also said that it will help the country in becoming self-reliant while emphasizing on quality. "You (auto industry) should address issues from fuel to engineering - need-based research with an understanding of the country's requirements," Gadkari said at the gathering.
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He highlighted that the automobile industry is one of the biggest strengths of the country, providing a turnover of ₹7.5 lakh crore, exports of ₹3.5 lakh crore, a GDP contribution of 7.1 per cent, manufacturing GDP of 49 per cent and providing jobs to over 4.5 crore people.
Further, the minister envisioned that before the end of 2025, the country's auto sector will become the world's top manufacturing hub and will be exporting to the entire world. He added that by the end of 2025, the automobile sector will become a ₹15-lakh-crore sector and will be able to generate 2.5-3 crore new job opportunities.
Talking about the Vehicles Scrappage Policy 2021, Gadkari said that it will help in reducing the cost in the automobile industry by nearly 30 per cent. "Because of the Scrappage Policy we will be successful in reducing the cost by 30 per cent," he said.
(with inputs from PTI)