India’s automobile industry, valued at ₹22 lakh crore, has overtaken Japan to become the world’s third-largest automobile industry, Union Minister for Road Transport and Highways Nitin Gadkari has said. He expressed confidence that India would become the world’s largest automobile market within the next five years.
Addressing a conclave organised by a private news organisation in New Delhi, Gadkari said improvements in road infrastructure had helped reduce India’s logistics costs by 6%. He added that the construction of expressways and highways had reduced travel time while supporting economic growth and infrastructure development in surrounding regions.
The Minister also highlighted the growing role of Indian farmers in producing hydrogen and other energy products, which could help reduce the country’s dependence on imports. He said that with an increase in hydrogen production, India could emerge as an energy-exporting nation in the future.
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