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“This is the right time for you for a large investment in this sector. I also invite as many youth as possible for startups in the energy storage sector,” he said.‘>
Prime Minister Narendra Modi on Friday invited investments from all sectors that see their “future in mobility”, promising government support “at every level” in the world’s third largest car market.
India’s auto industry, which grew by about 12% last year, will expand further as a result of factors including its large youth population, increasing middle class, and rapid urbanisation, Modi said.
He was speaking at the Bharat Mobility Global Expo in New Delhi, to an audience of global and Indian executives, including Toshihiro Suzuki, president of Suzuki Motor Corp, and Anish Shah, managing director of Mahindra and Mahindra.
“The intent and commitment of the federal government are completely clear. Whether a new policy has to be made, or reforms needed, our efforts are continuously underway. Now you have to take these forward, take advantage of them,” Modi said.
Pointing to work being done in India regarding solar power, he said this would fuel demand for battery storage systems.
“This is the right time for you for a large investment in this sector. I also invite as many youth as possible for startups in the energy storage sector,” he said.
India has been courting foreign investors like Elon Musk’s Tesla, whose entry into Indian markets, analysts say, could spur more investments in electric vehicles and also benefit local car part manufacturers.
The country’s EV market made up about 2% of its total car sales of 4 million in 2023.
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India’s Prime Minister Narendra Modi encourages investments in the mobility sector, highlighting government support and focusing on opportunities in the expanding auto industry and EV market. Speaking at the Bharat Mobility Global Expo, Modi underscores India’s initiatives in solar power and battery storage, inviting foreign investors and startups to capitalize on these growing sectors.
- Updated On Jan 17, 2025 at 05:15 PM IST
“This is the right time for you for a large investment in this sector. I also invite as many youth as possible for startups in the energy storage sector,” he said.“>
Prime Minister Narendra Modi on Friday invited investments from all sectors that see their “future in mobility”, promising government support “at every level” in the world’s third largest car market. India’s auto industry, which grew by about 12% last year, will expand further as a result of factors including its large youth population, increasing middle class, and rapid urbanisation, Modi said.
He was speaking at the Bharat Mobility Global Expo in New Delhi, to an audience of global and Indian executives, including Toshihiro Suzuki, president of Suzuki Motor Corp, and Anish Shah, managing director of Mahindra and Mahindra.
“The intent and commitment of the federal government are completely clear. Whether a new policy has to be made, or reforms needed, our efforts are continuously underway. Now you have to take these forward, take advantage of them,” Modi said.
Pointing to work being done in India regarding solar power, he said this would fuel demand for battery storage systems.
“This is the right time for you for a large investment in this sector. I also invite as many youth as possible for startups in the energy storage sector,” he said.
India has been courting foreign investors like Elon Musk’s Tesla, whose entry into Indian markets, analysts say, could spur more investments in electric vehicles and also benefit local car part manufacturers.
The country’s EV market made up about 2% of its total car sales of 4 million in 2023.
- Published On Jan 17, 2025 at 05:15 PM IST
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