Published - 03 Feb 2024 by Tractor Junction
In his speech at the Bharat Mobility Global Expo 2024, PM Modi talked about India's journey towards becoming the world's third-largest economy. He expressed confidence that this milestone will be achieved during his government's third term. Over the past decade, around 25 crore people have risen out of poverty, and India aims to become a 'developed' country by 2047, with the mobility sector playing a key role.
PM Modi highlighted the significant growth in India's mobility sector, with vehicle sales increasing from 12 crore before 2014 to over 21 crore since then. Electric vehicle sales have also seen a substantial rise, from 2,000 to 12 lakh annually. He emphasized the importance of new policies to support this growth.
The emergence of a new middle class has been a driving force behind increased car sales, and PM Modi noted their expanding income and aspirations. He stressed the need for continued focus on infrastructure development, citing achievements like the construction of 75 new airports and 4 lakh rural roads in the last decade.
PM Modi encouraged the industry to prioritize research and development, especially in manufacturing batteries using locally available raw materials. The Bharat Mobility Global Expo 2024, which showcases India's capabilities in the mobility and automotive sectors, will be instrumental in shaping the nation's future.
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