India to be number 1 auto manufacturing hub in 5 yrs
India will become the number one automobile manufacturing hub in the world by 2029 and the country will be the third largest economy, road transport and highways minister Nitin Gadkari said on Friday.
The government's focus going forward will be to build a world-class road network, move to alternative fuels and bring down logistics costs in the country, Gadkari added.
«One thing is very clear: if we need capital investment, development and industry, we should have good infrastructure, water, power, transport and communication,» he said. «Without that, we cannot develop our agriculture, service industry and tourism.»
Talking about the potential of the auto industry, Gadkari said, «We have all products and all major players present in the country. The automobile industry will give majority strength to the Indian economy and we will be Atmanirbhar Bharat and we will be the third largest economy in the world in the next five years.»
According to him, Prime Minister Narendra Modi accorded the highest priority to development of infrastructure in the country after forming the government in 2014.
«To achieve the dream of PM Modi to make India the third largest economy in the world, we need to develop world standard infrastructure in the country,» Gadkari said. By the end of 2024, the country's national highway network will be equivalent to the road network of the USA, he added.
He said his focus is to improve the quality of Indian roads and transition to alternate fuels to bring down the logistics cost in the country
