Aim to make India's auto industry world no 1 in 5 Years: Gadkari

New Delhi: The government aims to make India's automobile industry the number one in the world within five years, road transport and highways minister Nitin Gadkari said on Wednesday, adding that this is doable given the availability of trained manpower and presence of all big automobile companies in the country,

"Within five years, our target is to make India's automobile industry the number one in the world. It is difficult, but not impossible," Gadkari said at the seventh Auto Retail Conclave of the Federation of Automobile Dealers' Association (FADA).

He said the quality of vehicles manufactured in India is good and cost is less, so all top automobile companies are present in the country.


"When I took charge as transport minister, the size of the Indian automobile industry was ₹14 lakh crore and it has now gone up to ₹22 lakh crore, compared to ₹78 lakh crore in the US and ₹47 lakh crore in China," Gadkari said.

India is spending ₹22 lakh crore annually for importing fossil fuels, which cause pollution, he said.

The minister said Indian companies are manufacturing electric cars, buses and trucks as they are very cost-effective. "The cost of lithium-ion batteries is also reducing. In due course of time, the price of petrol, diesel vehicles and electric vehicles will be the same," he said.