Union Minister for Road Transport & Highways and MSMEs Nitin Gadkari has expressed confidence that in the next five years, India will become a manufacturing hub for electric vehicles (EVs).
He said, the Government is trying to extend best possible concessions to this sector, and has lowered the GST on electrical vehicles to 12 per cent.
Addressing a webinar on ‘India’s Electric Vehicle Roadmap post-COVID-19’ t the Minister said, he was aware of the issues facing the EV sector, but was also sure of the things to change as the sales volumes increase.
The minister said, the world is no more interested in doing business with China, which is a very good opportunity for Indian industry to pick up the shift in business.
Gadkari said, with petroleum fuel being available in limited quantity, the world has to look for alternate and cheap sources of power. He said, electric and bio fuels stand a good chance for adoption. He also indicated towards the ensuing vehicle scrapping policy, and commented that it will give a fillip to auto manufacturing sector.
The Minister recalled the London model of public transport, where private and public investment is working well. He said, adopting similar approach will be beneficial for both the poor commuters and the civic administration. He indicated towards working on a pilot project for developing an electric highway on the upcoming Delhi-Mumbai Green Corridor.
Gadkari expressed full confidence in the capabilities of the auto sector, and said, with consistency and self confidence in this economic crisis, it can gather good market opportunities. He also called upon the industry to go in for indigenisation and support Prime Minister’s ‘AtmNirbhar Bharat Abhiyan.’