How India can become the world’s No.1 automobile manufacturer in the EV segment

Union Minister Nitin Gadkari said that India can become the world’s number one vehicle manufacturer in the electric vehicle segment, if India can utilize the recently discovered lithium reserves in Jammu and Kashmir.

He said, “Every year, we import 1,200 tonnes of lithium. Now, in Jammu and Kashmir, we have got lithium. (If) we can use this lithium ion, we can become the number one automobile producer in the world.” Will be.”

Lithium is a key element in making the batteries that power electric vehicles.

Addressing an event organized by industry body CII, the Road, Transport and Highways Minister said that public transport needs to be encouraged and electric buses are the future.

According to Gadkari, India’s automobile industry is currently worth Rs 7.5 lakh crore, and the sector contributes maximum to the total GST revenue.

An estimated 5.9 million tonne reserve of lithium, an important mineral for manufacturing electric vehicles and solar panels, was discovered in Reasi district by the Geological Survey of India (GSI).

The minister also asked the industrialists to invest in scrapping of vehicles.

Gadkari stressed the need to bring down India’s logistics cost to single digits by 2024 from 16 per cent of GDP at present.