India to surpass US and China to become leader in automobile Industry over next ten years: Nitin Gadkari
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Minister for Road Transport and Highways, Nitin Gadkari, has laid out a vision to transform India into the world’s top automobile hub within the next decade. Citing India’s competitive advantages in production costs and labour, Gadkari expressed confidence in the country’s capacity to become a leading global player.
He stated ‘The size of our automobile industry is 22 lakh crore. and size of the China’s automobile industry is 44 lakh crores and US is 78 lakh crore. Now, our aim is to make India’s automobile industry within 10 years number one in the world.’ He said India’s production cost is much less than other countries, but high logistic cost is an issue for India. With the growth of infrastructure, better roads and ports our logistic costs is coming down.
He added ‘USA and European countries, it is 12 per cent. And Indian scenario, it going up to 14 to 16 percent. So, this is the first time we have decided to reduce this cost. We have now a lot of express highway, 36 green access control express highways. Our NHI is triple-A rating.’
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