India is well poised to emerge as the world’s foremost manufacturing hub for a variety of electric vehicles, and this should happen in due course of time, believes Nitin Gadkari, Union Minister for MSME, Road, Transport and highways.
The Minister added that besides the electric technology for automotive, the use of fuel ethanol, methanol biodiesel and bio CNG is being proactively promoted.
“The country is now focussing on the huge potential of biofuels and I am 100% confident that in due course of time, India will emerge as the number 1 manufacturing hub for electric cars, electric bikes, electric buses, electric two-wheelers,” Gadkari said at the inaugural session of TiE Global Summit 2020 held today.
“We are making ethanol from sugarcane, molasses and corns. The government has given permission for making it from the rice. Besides various new technologies, we are doing research on hydrogen fuel cells. In Public transport too, new research and innovations are being carried out. I believe these are the emerging sectors where a huge potential lies for the country,” Gadkari said.
Calling Covid both a crisis and an opportunity for Indian businesses, particularly for MSMEs, he said Indian automobile industry’s turnover now stands at Rs 4,50,000 crore, and the sector’s ancillary industries are already doing excellent jobs in recovering from the ongoing pandemic ridden phase.
The performance of our 2-wheelers and 4-wheelers sectors is now back to pre-Covid levels and these segments are now working to increase their exports share, the minister added.
Betting big on Rural India
Stressing on the huge business prospects of the Indian rural economy, the minister also said that the government is encouraging firms to look at rural India as a great business destination.
“Our focus is on the development of rural and tribal-based areas which offer great business potential. The MSME ministry is giving special priority to segments such as honey, solar charkhas and for making the denim,” Gadkari said, adding that the leading US company Levi is now using Indian- based denims.
“This shows that there exists several world-class products that the country can offer to global markets,” he added.
