Business | Jan 18, 2025 | 10 min read Future of mobility belongs to India: Modi

#New Delhi

Prime Minister Narendra Modi on Friday said the future of mobility belongs to India that saw an unprecedented sale of 2.5 crore vehicles a year, and attracted $36 billion foreign direct investment in just four years.

Addressing a gathering after inaugurating the Bharat Mobility Global Expo 2025, the Prime Minister also emphasised that India stands as an outstanding destination for every investor looking to shape one’s future in the mobility sector.

The five-day expo which is being held in the national capital — is expected to witness over 100 new launches across automobiles, component products and technologies.

India’s largest auto expo, scheduled from January 17-22, will bring the entire value chain of the mobility ecosystem — from automobile manufacturers to components, electronics parts, tyre and energy storage makers, and automotive software firms and material recyclers — under a single umbrella.

Modi said the automotive industry was driven by innovation and technology and stressed that the future belongs to the East, Asia, and India. “India is an excellent destination for every investor looking to see their future in mobility,” he said while reassuring everyone that the government is fully supportive and encouraged everyone to continue advancing with the mantra of ‘Make in India, Make for the World’. Modi said the ‘Make in India’ initiative has played an important role in unleashing the growth potential of India’s auto industry.

The performance linked incentive (PLI) schemes, he said, have given new momentum to the ‘Make in India’ campaign, aiding sales of over Rs 2.25 lakh crore and creation of more than 1.5 lakh direct jobs in the sector. “Driven by the aspirations of the people and energy of the youth, India’s automobile sector is witnessing an unprecedented transformation,” he said, and added that in the past year, the Indian auto industry has grown by nearly 12% and exports rose.

Modi remarked that the number of cars sold annually in India surpasses the population of many countries. The sale of approximately 2.5 crore cars in a year demonstrates the continuously growing demand in India, Modi said. India is currently the world’s fifth-largest economy and the third-largest passenger vehicle market.