Car sales up 60% in last 10 years: PM Modi hails auto sector growth at Bharat Mobility 2024

Prime Minister Narendra Modi attended the inaugural edition of the Bharat Mobility Global Expo 2024 at Bharat Mandapam, Pragati Maidan on Friday, February 2, 2024. Speaking at the event, PM Modi hailed the growth of the Indian automotive industry calling the mobility sector’s contribution “crucial" to achieve the goal of ‘Viksit Bharat 2047.’ The Prime Minister was joined by Union Ministers Piyush Goyal, Hardeep Singh Puri and Nitin Gadkari on the stage as he addressed the speech to the head honchos of the auto industry.

PM Modi said, "In 10 years before 2014, around 12 crore vehicles were sold in the country. However, since 2014 more than 21 crore vehicles have been sold in the country. 10 years ago, around 2,000 electric vehicles were being sold. However, now 12 lakh electric vehicles are being sold. In the last 10 years, around 60 per cent growth has been registered in passenger vehicles."

The Prime Minister further said that the growing middle class will give strength to the mobility sector of India, emphasising the emergence of the “neo-middle class." More people coming out of poverty fuels the requirement for transportation, be it cycle, two-wheeler or four-wheeler, PM Modi explained.

The prime minister also interacted with the exhibitors at Bharat Mobility 2024, which saw participation from the top passenger, two-wheeler and commercial vehicle makers. He also urged the residents of Delhi to visit Bharat Mandapam and see the expo.

"First of all I congratulate the automotive industry for organising this wonderful event, I could not go to all the stalls today but the stalls I saw were very impressive. All this is happening in our country, it is a moment of happiness for us. I have never bought a car, so I have no experience, I have never even bought a bicycle. The people of Delhi should come and see this expo," he added.

PM Modi further iterated that the Indian economy is growing faster and is bound to become the third biggest economy in the world, hinting at the third term of the NDA government. He also highlighted the push for infrastructure development in the country in the last decade citing the examples of the Atal Tunnel and Atal Setu. He further listed that the capital expenditure on India’s infrastructure projects increased from ₹2 lakh crore to over ₹11 lakh crore since 2014. The complete budget will share more light on infrastructure projects and expenditures, he added.

“We are challenging seas and mountains, and building engineering marvels in record time. From Atal Tunnel to Atal Setu, India's infrastructural development is creating new records. In the last 10 years, 75 new airports have been built. Around 4 lakh rural roads have been constructed." he said.

The PM also added a new scheme to build 1,000 modern resting facilities for truck and cab drivers on national highways in line with the government’s ease of living policy. The PM also emphasised that the auto sector should promote research in green hydrogen and ethanol.