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Union minister Nitin Gadkari has said that the government looks to increase the contribution of the automobile sector to India's Gross domestic product to 12 percent from the present 7.1 percent and grow employment generation to 50 million from the current 37 million. He further said the automobile industry is a vital player in India's vision to become a $5 trillion economy.

The minister has stated that the Indian automotive industry is a key driver of economic growth in the country. The contribution of the automobile sector to the overall GDP of India stands at 7.1 per cent and 49 per cent of the manufacturing GDP, with an annual turnover of Rs 7.5 lakh crore and export of Rs 3.5 lakh crore.

According to Gadkari, it is estimated that 37 million jobs, directly and indirectly, are supported by the industry. He said the government is working towards making the country the Number 1 global automobile manufacturing hub in the coming years. He mentioned that many multinational automotive brands are now available in India.