Heavy industries min to hold stakeholders’ meet on Dec 4 in Goa

Automobile industry contributes nearly 6.4% to India’s GDP and 35 per cent to manufacturing GDP

NEW DELHI: The heavy industries ministry is organising a conference of all stakeholders, including government officials, industry leaders and start-ups, in Goa on December 4 to work out strategies to promote adoption of electric vehicles and attract investment in manufacturing of EVs, batteries and high-tech auto components, an official statement said on Thursday.

Heavy Industries Minister Mahendra Nath Pandey will be the chief guest at the round table conference, in which state transport ministers, chief secretaries, senior officers, industry leaders from automotive sector, start-ups and technical experts are participating. “The aim of the conference is to work out strategies to promote the adoption of electric vehicles in India and attract investment in manufacturing of EVs, batteries and high-technology automotive components in India,” it said.

The automobile industry contributes nearly 6.4 per cent to India’s GDP and 35 per cent to manufacturing GDP, and is a leading employment provider.

India ranks No. 1 in the world in two-wheelers, threewheelers and tractors manufacturing and No. 5 in passenger and commercial vehicles manufacturing. The size of Indian original equipment manufacturers is $80.8 billion with exports of $11.7 billion.

The size of the auto component industry is $57 billion with exports of $15 billion and imports of $17.7 billion. In global automotive trade of $1.5 trillion, India’s share is less than two per cent with total exports of $27 billion. India’s share of advanced automotive components is only 3 per cent compared to 18 per cent globally.