PM Modi says “Golden Period” for Mobility Sector, Calls India Growth ‘Fast’ at Bharat Mobility Expo

Bharat Mobility Expo: Prime Minister Narendra Modi today addressed India's first global mobility expo, held in Pragati Maidan in New Delhi. He highlighted how India's mobility segment is booming at this time due to the country's tremendous development. The increasing preferences and income of the middle class, in tandem with the nation's roaring economy, are driving the mobility segment's growth in India. He stated that India has sold more than 21 crore cars since 2014, and only 2,000 electric vehicles were sold annually ten years ago. Now, about 12 lakh electric cars are being sold annually in India. In addition, passenger vehicle sales have increased by 60% over the last decade. Further, the deliveries of two-wheelers have also gone up by about 70%. On top of that, the most recent figures indicate that the sales of cars in January shattered all prior records. According to Prime Minister Narendra Modi, this continuing growth indicates an exceptionally advantageous environment for India's mobility industry.

"India is on the move and is moving fast, in a way it's a golden period for India's mobility sector. Today, India's economy is expanding, and as I said earlier, in the third term of our government, India is sure to become the third largest economy in the world.''

In his address at the event, he also discussed a wide range of subjects, including how the recently announced capital expenditure investment is going to highlight tremendous financial prospects for India's mobility sector. He said the move will create jobs in addition to fostering economic growth. India's auto and automotive component industry is making a difference to the country's position as a major economic player by being highly competitive worldwide, claims PM Modi. In addition to addressing internal research and development of raw materials for new batteries and the promotion of greener and cleaner fuels, he commented on the importance of drivers in the automotive industry and announced that the government is currently working on a new scheme that would set up about 1000 driver centres on highways with rest areas and food facilities. 

A Quick Look At Other Expo Details 

The event brings together all the players in the mobility value chain under one roof, with over 800 exhibitors from more than 50 countries, over 600 auto component manufacturers, over 28 vehicle manufacturers, and more than a thousand brands from more than thirteen international markets.

It features advancements in multiple fields, such as powertrains, eco-friendly tyres, battery technology, linked technologies, and electrical and electronics subsystems. It also has on display many products that are associated with the building of electric vehicles, such as battery swapping and charging stations.

Several prominent two- and four-wheeler car companies, including Hero MotoCorp, Kia, Skoda, Maruti Suzuki, Royal Enfield, and Tata Motors, have participated in the ongoing mega event and displayed their innovative concepts and models. The Tata Nexon i-CNG Concept, the Yamaha R15M Carbon Edition, the Skoda Enyaq iV, and the Royal Enfield Classic 350 Flex-Fuel are among the highlights of the mobility show. Not only that, but various enlightening workshops and discussions regarding EV infrastructure, battery safety, electrification, and the circular economy are also included.

For the uninitiated, the three-day mobility expo is organised by the Ministry of Commerce and backed by multiple corporate groups, notably NASSCOM, the Automotive Component Manufacturers Association, and the Society of Automobile Manufacturers Association. 

Mr. Rajesh Menon, SIAM Director General, said, "I am indeed very pleased to see the response of so many of our members who have participated in Bharat Mobility Expo, which has got off today with a perfect start. All companies presenting two-wheelers and three-wheelers, passenger vehicles, and commercial vehicles are participating in this expo. They are displaying some unique and innovative products, ranging from technology worldwide."

Mr. K S Vishwanathan M, Vice President, Industry Initiatives at Nasscom, said, "We are indeed delighted to be at Bharat Global Mobility Expo 2024 showcasing the Software on Wheels concept with the Techade pavilion. Inevitable India with its Technology and Innovation prowess is reshaping the global automotive and mobility landscape".