Road Transport and Highways Minister Nitin Gadkari addressing the annual general meeting of the Indian Sugar and Bio-Energy Manufacturers Association (ISMA) on Thursday.
The growth of electric vehicles market in India is going to be great going forward. Union Minister Nitin Gadkari said on Thursday that about 5 crore jobs will be created in the country’s EV sector by the year 2023. Gadkari said the Indian electric vehicle market potential is likely to reach Rs 20 lakh crore by 2030. According to PTI news, the Union Minister also said that by 2030 the size of the electric vehicle finance market will be around Rs 4 lakh crore.
40% of air pollution in India is due to transport sector
According to the news, the Minister of Road Transport and Highways said that 40 percent of air pollution in India is caused by the transport sector. India imports fossil fuels worth Rs 22 lakh crore, which is a major economic challenge. This import of fossil fuels is creating a lot of problems in our country. According to Gadkari, the government is focusing on green energy as 44 percent of India’s electricity consumption comes from solar energy.
Energy development top priority
Gadkari said that we are giving top priority to the development of our hydro power, then solar energy, green energy, especially energy from biomass. Solar energy is one of the important sources for all of us. He said that India is facing shortage of electric buses. Our country needs one lakh electric buses, but our capacity is 50,000 buses. He requests the companies that this is the right time to expand their factories.
size of indian automobile industry
Gadkari also asked automobile companies not to compromise on the quality of electric vehicles. Gadkari said that when he took over as Transport Minister in 2014, the size of India’s automobile industry was Rs 7 lakh crore. Today the size of the automobile sector is Rs 22 lakh crore. We are at number three in the world. We have left Japan behind. The size of the US automobile industry is Rs 78 lakh crore, followed by China (Rs 47 lakh crore) and India (Rs 22 lakh crore).
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