Confident of Indian automobile industry becoming number 1 in 5 yrs: Gadkari

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Confident of Indian automobile industry becoming number 1 in 5 yrs: Gadkari - Business Standard

Quick Summary:

Union Minister Nitin Gadkari on Tuesday exuded confidence that India's automobile industry will rise to the number one position globally in the next five years and outlined his ministry's ambitious target to also reduce the logistics costs in India to 9 per cent over two years.

Speaking at the Amazon Smbhav Summit, the Road Transport and Highways Minister noted the remarkable growth of India's automobile industry, which he said has surged from Rs 7 lakh crore to Rs 22 lakh crore since he took charge of office.

"First is USA -- Rs 78 lakh crore, second-largest automobile industry is in China--Rs 47 lakh crore, and now India is at Rs 22 lakh crore.