‘Amrit Kaal’ is an opportunity to achieve self-reliance in every field and automobile sector is no exception: Modi
‘Amrit Kaal’ is an opportunity to achieve self-reliance in every field and automobile sector is no exception: Modi
Prime Minister Narendra Modi on Thursday called on the automobile sector to achieve self-reliance, while also emphasizing the need to accelerate innovations for green alternatives.
The automobile industry, on its part, has set a target of becoming almost 100% self-sufficient across the entire manufacturing value chain by 2047, while becoming one of the two largest producers in every segment of automobiles in the world. However, the industry said a long-term regulatory roadmap is one of the key enablers that can help in better planning of investments, technologies and product development.
“Our government has taken a competent approach towards making the manufacturers a global manufacturing hub by encouraging them to ‘Make in India’. ‘Amrit Kaal’ is an opportunity to achieve self-reliance in every sector and the automobile sector is no exception, The Prime Minister said in his message to the industry at the 62nd Annual Conference of the Society of Indian Automobile Manufacturers (SIAM).
Shri Modi said that it is the need of the hour that the innovation of automobile industry for green alternatives should gain a new momentum to help India become self-reliant while ensuring safety and protection of the environment.
Speaking at the event, SIAM President Kenichi Ayukawa said that, at present, the industry is passing through a unique phase. “Some sectors have started seeing improvement after the pandemic, while some are still struggling. For example, entry-level cars and large-scale vehicles such as two-wheelers are facing a sharp drop in demand due to a significant increase in acquisition costs.
For sectors with good demand, there are supply-side challenges, mainly semiconductor shortages, he said, adding that over the next 25 years, the auto industry will develop several alternative technologies or energy options that are closest to ‘carbon net zero’ and are suitable. For Indian context.
cost of quality change
Speaking at a separate session of the conference, Union Minister for Road Transport and Highways Nitin Gadkari said that the automobile sector should focus on quality and not cost.
The comments come amid renewed focus on road safety following the death of business magnate Cyrus Mistry in a road accident.
Mr Gadkari asked automobile manufacturers to consider giving exemption to new buyers who have canceled their old vehicle, adding that the government does not want to make it mandatory.
He said that he is also advocating for reduction in GST on new vehicles purchased after scouting old vehicles. “Yesterday, I had a meeting with Steel Minister Jyotiraditya Scindia. Both of us are going to meet the Finance Minister again and request him to give GST concession for new purchase of vehicles against cancellation of old vehicles,” the minister said.