Politics
India's annual car sales exceed population of many countries: PM Modi at Bharat Mobility Global Expo 2025
Prime Minister Narendra Modi on Friday inaugurated the Bharat Mobility Global Expo 2025, declaring that India is the future of global mobility. Speaking at the Bharat Mandapam in New Delhi, Prime Minister Modi highlighted India's impressive annual vehicle sales of 2.5 crore units and attraction of $36 billion in foreign direct investment (FDI) to the over the last four years.
India is a great destination for investors who want to shape the future of mobility, Prime Minister Modi said. He attributed the growth of the sector to the success of initiatives such as Make in India and Performance Linked Incentive (PLI) schemes, which have created over 1.5 lakh jobs and increased sales value. 2.25 lakh.
The five-day exhibition, taking place across three venues in Delhi and Greater Noida, is India's largest automobile showcase. It brings together stakeholders in the mobility ecosystem, including automobile manufacturers, component producers and green technology innovators. More than 100 new products and technologies are expected to debut at the event.
Prime Minister Modi highlighted that India's automobile industry, driven by innovation and technology, is undergoing an unprecedented transformation. India's automobile sector grew by almost 12 percent last year, with exports also increasing significantly, he noted, adding that India's annual car sales exceed the population of many countries.
Bharat Mobility Global Expo 2025: PM Modi plans further expansion
India is currently the world's fifth largest economy and third largest passenger vehicle market. Prime Minister Modi foresees further expansion as India climbs into the world's top three economies, driven by a large youth population, rapid urbanization and the development of modern infrastructure.
He also highlighted the rise of India's neo-middle class, with 25 million Indians lifted out of poverty over the past decade, many buying their first vehicle.
The Prime Minister highlighted the importance of green mobility, citing the rapid growth of electric vehicles (EVs). Ten years ago, only 2,600 electric vehicles were sold each year. By 2024, this figure has increased to 16.8 lakh. By the end of this decade, sales of electric vehicles could increase eightfold, he predicts.
Prime Minister Modi urged manufacturers to capitalize on the vehicle scrappage policy, encouraging new incentives to replace older vehicles with eco-friendly alternatives.
Recalling the contributions of industry legends Ratan Tata and Osamu Suzuki, he lauded their role in shaping the Indian automobile sector and realizing the aspirations of middle-class families.
Commerce and Industry Minister Piyush Goyal also spoke at the event, highlighting India's leadership in three-wheeler and tractor manufacturing and its status as the largest two-wheeler market. -wheels in the world.
India's mobility revolution, Modi said, reflects the aspirations and energy of its people, promising a bright future for the sector and the economy.
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