Automobile Industry Needs Faster Green Innovation, Says Narendra Modi
Prime minister also said that automobile sector has contributed to economic growth through new avenues for employment generation
Prime minister Narendra Modi, on Thursday, said that the automobile industry needs innovation for green alternatives to ensure protection and conservation of environment as well as help in making India self-reliant.
"Amrit Kaal is an opportunity to achieve self-sufficiency in every sector and the automobile sector is no exception," said Narendra Modi, in a written address to the annual session of the society of Indian automobile manufacturers (SIAM).
As per PM's message, which was read out by the outgoing Siam president Kenichi Ayukawa, the automobile sector has contributed to economic growth through new avenues for employment generation.
"It is a need of the hour that the automobile industry's innovation for greener alternatives attains a new momentum, to ensure the protection and conservation of environment, as well as help in making India self-reliant," said Modi.
While expressing the hope that industry would look at developing a futuristic blueprint for the automobile sector, the Prime minister also congratulated the auto industry on becoming the fourth largest in terms of vehicle manufacturing and lauded its achievement of record exports. He added, "These accomplishments that came despite the pandemic have played a key role in India's economic resurgence."
"Currently, the industry is going through a unique phase. Some segments have started to see recovery after the pandemic, while a few are still struggling. For example, mass segments like entry-level cars and two-wheelers are facing huge reduction in demand owing to significant increase in the acquisition cost," said SIAM president Kenichi Ayuwaka, while speaking at the event, as per report.