Prime Minister Narendra Modi, addressing the Bharat Mobility Show’s inaugural session, emphasized India’s burgeoning middle class as a pivotal driver of economic growth, particularly within the mobility sector. Highlighting the role of automobile and auto component manufacturers, he underscored their significance in meeting the evolving needs of this demographic, positioning India as a global powerhouse. Expressing confidence in India’s trajectory to become the world’s third-largest economy during his tenure, Mr. Modi outlined abundant opportunities for stakeholders to expand their businesses.
Acknowledging a profound socioeconomic shift, the Prime Minister observed that over the past decade, 250 million people have emerged from poverty, with rising aspirations, including a surge in vehicle ownership, propelling the mobility sector forward. He pointed to the remarkable surge in car and electric vehicle sales as indicators of the sector’s robust growth. Commending the Government’s proactive stance in crafting policies tailored to future needs, Mr. Modi highlighted initiatives like the PM National Gati Shakti Masterplan and the National Logistics Policy. He attributed the ease of doing business in India to timely project completion and transformative reforms, including the Goods and Services Tax (GST). Anticipating India’s rise as a global economic powerhouse, the Prime Minister underscored the pivotal role of the auto industry in this trajectory.
