Target to take auto sector turnover to Rs 15 lakh in 5 years: Nitin Gadkari

Union Road Transport Minister Nitin Gadkari on Tuesday said that the Centre’s mission is to increase the turnover of the automobile industry to Rs 15 lakh crore within the next five years.

Gadkari said, “The current turnover of the country’s automobile sector is Rs 7.5 lakh crore, of which Rs 3 crore is export. My target is to take the auto industry to Rs 15 lakh crore within the next five years.” He said while inaugurating the government-approved scrapping of Maruti Suzuki and Toyota Tsusho Group in Greater Noida.

Recently, at the COP26 summit, Prime Minister Narendra Modi said that India is aiming for net zero carbon emissions by 2070.

Gadkari said that the government is encouraging the use of CNG, LNG, green hydrogen, ethanol fuel and electric vehicles for this purpose.

“Our current import of fossil fuels is currently Rs 8 lakh crore and it will reach Rs 25 lakh crore in the next five years. We are continuously working on diversification of agriculture towards energy and power sectors. Flex engine in US being used, Brazil and Canada, where they use either 100 percent petrol or 100 percent ethanol.

Bioethanol is a fuel that comes from sugarcane and molasses. The government has given permission to make bioethanol from rice, maize and food grains. The government has decided to open ethanol pump like petrol pump. This is a win-win situation for all the stakeholders. It can help in combating pollution and it is also good for the tribal, agricultural areas of the country.”

He termed the introduction of scrapping unit and vehicle scrapping policy as ‘historic’.

“Vehicle scrapping policy is of utmost importance for our ecology and economy. It will reduce the pollution generated by old vehicles. Through scrapping, raw materials like aluminum, steel, copper etc. will be available at a lower cost, which will also reduce the cost of production ” Vehicle. Raw material cost can be reduced by at least 33 percent. This will reduce our dependence on imports as we still import aluminum, copper and many other things. The industry’s issue of shortage of semi-conductors will be addressed by this policy,” he said.

He remarked that the policy would help convert ‘waste’ into ‘wealth’.

He also said that the vehicle scrapping policy will directly generate at least 2 lakh jobs and boost the sale of automobiles. “GST revenue of Rs 30,000-40,000 lakh crore is also generated from the sale of vehicles, which is also beneficial for the government,” he said.

Gadkari said that the government aims to set up at least 4 scrapping centers in every district, of which at least two are in backward areas.

Presenting the Union Budget 2021-22, Finance Minister Nirmala Sitharaman on February 1 announced a voluntary vehicle scrapping policy for phasing out old and unsuitable vehicles, under which private vehicles will have fitness tests at automated centers after 20 years, While commercial vehicles will have to pass through. exam after 15 years

Talking about green hydrogen production, he said that the government has started a mission to support the manufacturers in its production.

Prime Minister Narendra Modi announced the National Hydrogen Mission on August 15, on the occasion of the country’s 75th Independence Day, with the aim of making India a hub for production and export of green hydrogen.