Underscoring the importance of the need and aspirations for the growth of the auto industry, Prime Minister Narendra Modi remarked on Friday that India possesses both. He emphasised that India would remain the world’s youngest country for many decades with the youth being the largest customer base.
Speaking at the inauguration of the Bharat Mobility Global Expo 2025, the largest mobility expo in India at Bharat Mandapam in New Delhi, Modi noted that the large youth demographic would create significant demand.
Additionally, he pointed out that another major customer base is India’s middle class and over the past decade, 25 crore Indians have risen out of poverty, forming a neo-middle class that is purchasing their first vehicles. He added that as the progress continues, this group would upgrade their vehicles, benefiting the auto sector.
He said the journey of Viksit Bharat is set to be one of unprecedented transformation and exponential growth in the mobility sector.
The prime minister emphasised that several factors drive the future of mobility in India, including the country’s large youth population, the expanding middle class, rapid urbanisation, modern infrastructure development, and affordable vehicles through the Make in India initiative. He added that these factors collectively push the growth of the auto sector in India.
Reminiscing late industrialist Ratan Tata and former chairman of Japan’s Suzuki Motor Osamu Suzuki during the grand event of the Indian Auto sector, he said the contributions of both the stalwarts were immense in the growth of the Indian Auto sector as well as fulfilling the dreams of middle-class families of India. He expressed the confidence that their legacy would continue to inspire the entire mobility sector of India.
Recollecting his vision of the “Seven Cs for mobility solutions”: Common, Connected, Convenient, Congestion-free, Charged, Clean, and Cutting-edge, the prime minister said the focus on green mobility is part of this vision. India is building a mobility system that supports both the economy and ecology, reducing the import bill for fossil fuels.
There is significant focus on the development of green technology, EVs, hydrogen fuel, and biofuels, he said, highlighting initiatives like the National Electric Mobility Mission and the Green Hydrogen Mission.
Drawing attention towards the rapid growth of electric mobility in India over the past few years, Mr Modi pointed out that the sale of electric vehicles has increased 640 times in the past decade. While only around 2,600 electric vehicles were sold annually ten years ago, over 16.80 lakh electric vehicles were sold in 2024.
Earlier, PM Modi reviewed the exhibition at the Expo that aims to unite the entire mobility value chain under one umbrella. This year’s expo will have a special emphasis on the global significance with participation from across the globe as exhibitors and visitors.
Commerce and Industry Minister Piyush Goyal and Heavy Industries and Steel Minister HD Kumaraswamy were also present on the occasion.
The Expo will be held from 17-22 January, 2025 across three separate venues: Bharat Mandapam & Yashobhoomi in New Delhi and India Expo Center & Mart, Greater Noida.