PM Modi calls for investments in mobility sector, promises government support

India's Prime Minister Narendra Modi has urged investments in the mobility sector, emphasizing government support and highlighting opportunities in the expanding auto industry and EV market.

Prime Minister Narendra Modi, speaking at the Bharat Mobility Global Expo in New Delhi on Friday, encouraged investments from all sectors with a focus on the “future of mobility,” offering government support “at every level” in the world’s third-largest car market. He emphasized that the government is establishing the right policy framework to foster the sector’s growth.

“We have a clear vision: to develop a comprehensive ecosystem for the auto sector in India. We are supporting FDI, technology transfer and global partnerships in the industry,” said Prime Minister Modi, highlighting that the sector has attracted $36 billion in FDI over the past four years and positioning India as the ‘destination’ for those aiming to drive mobility forward.

Modi also reiterated the government’s commitment to energy transition, emphasizing the need for a focused approach to battery manufacturing. He reaffirmed the government’s dedication to electric vehicles (EVs), green technologies, and biofuels.

“This is the right time for significant investments in the sector,” Prime Minister Modi stated, urging the industry to focus on strengthening India’s battery sector using indigenous technology. “We must innovate in battery and storage systems with the materials readily available to us,” he added. “We will introduce the right policies, but the industry must seize the opportunities they present.”

Modi highlighted that the PLI Scheme has already created over 150,000 jobs, emphasizing India’s unique opportunity for the industry as a young, rapidly growing economy. “Several factors are driving India’s mobility, including a growing middle class, rapid urbanization, improved infrastructure, affordable vehicles, and a large youth population. India has the essential ingredients for growth—need and aspiration.”

“The future belongs to the East, to Asia, to India. The journey towards a developed India will involve a substantial expansion of the auto industry. The growth in India is unlocking vast opportunities for the sector,” he concluded.