320-x-100_uti_gold.jpg" alt="Advertisement">
Auto industry should go for need-based research to address various issues of sector: Nitin Gadkari
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Union Minister Nitin Gadkari has said the auto industry should go for need-based research to address various issues of the sector from fuel to engineering. He said the automobile industry should always have a vision that will help the country in becoming self-reliant and the emphasis on quality should be a priority.
The minister said the automobile industry is one of the biggest strengths of the country with a turnover of Rs 7.5 lakh crore, exports of Rs 3.5 lakh crore, a GDP contribution of 7.1 per cent, manufacturing GDP of 49 per cent and providing jobs to over 4.5 crore people. He said 'I believe that before the end of 2025, our automobile sector will become the world's number one manufacturing hub and we will be exporting to the entire world’.
Gadkari said the Vehicles Scrappage Policy 2021 will help in reducing the cost by nearly 30 per cent in the automobile industry. He added that the sector, by the end of 2025, will become a Rs 15-lakh-crore sector creating 2.5-3 crore new job opportunities.
