NEW DELHI: Highlighting India’s great potential in the mobility sector, Prime Minister Narendra Modi on Friday said while India saw an unprecedented sale of 2.5 crore vehicles in a year, the sector attracted 36 billion dollars in foreign direct investment (FDI) in the last four years.
Addressing a gathering after inaugurating the Bharat Mobility Global Expo 2025 at the Bharat Mandapam here, Modi said India was an excellent destination for investors who saw their future in mobility. The PM said factors such as the country’s large youth population, the expanding middle class, rapid urbanisation, modern infrastructure development and affordable vehicles through the ‘Make in India’ initiative were driving the mobility surge in the country.
He said 25 crore Indians had risen out of poverty, forming a neo-middle class that was purchasing their first vehicles. The group would upgrade their vehicles, benefiting the auto sector, he added.
Stating that multi-lane highways and expressways were being constructed across India, PM Modi said with good infrastructure, new technology was also being integrated. He said FASTag had made driving experience in India much easier, adding that the National Common Mobility Card was also making seamless travel in India a reality.
Talking about the growth of electric mobility in India over the past few years, Modi said the sale of electric vehicles had increased 640 times in the past decade. While only around 2,600 electric vehicles were sold annually 10 years ago, over 16.80 lakh electric vehicles were sold in 2024, he said. The number of electric vehicles sold in a single day today in the country was double the number sold in an entire year a decade ago, he added. He predicted that the number of electric vehicles in India would increase eightfold by the end of this decade.
Noting the support provided by the government for EV manufacturing, Modi said initiatives had been taken for global investors interested in EV car manufacturing in India. He said these efforts would help expand the EV manufacturing ecosystem in India.
The PM also paid tribute to Ratan Tata and Osamu Suzuki automobile industry stalwarts, who passed away last year and said their legacy would continue to inspire the entire mobility sector of India.
Commerce and Industry Minister Piyush Goyal said India had become the largest manufacturer of three-wheelers and tractors in the world and also held the top spot as a two-wheeler market in the world.
Union Ministers Nitin Gadkari, Manohar Lal Khattar, HD Kumaraswamy, Jitan Ram Manjhi and Hardeep Singh Puri, too, were present among other dignitaries at the event.