NEW DELHI: Highlighting the potential of the middle class and youth in fuelling car sales, PM Narendra Modi on Friday asked the auto industry to focus on both “economy and ecology” as he sought to push green mobility through electrics, hydrogen fuel cells, and biofuels.
Inaugurating the second edition of Bharat Mobility Global Expo, Modi told industry players they should not only make in India for the domestic market but also look to export across the globe. “Our mobility solutions should be common, connected, convenient, congestion-free, charged, clean and cutting-edge. Our focus on green mobility is part of this vision,” Modi said, with auto industry CEOs in attendance.
His pitch was also linked to India’s economic strategy. “We are building a mobility system that supports both economy and ecology. A system that reduces our import bill of fossil fuels. Therefore, we are focused on development of green technologies such as EVs, hydrogen fuel and biofuels,” the PM said.
This youth is your biggest customer: PM Modi tells EV companies
Modi said govt has been pushing the sales of EVs with its focus on promoting sustainable solutions. “We are constantly taking policy decisions to expand electric mobility in the country, (and) supporting the industry.” The PM said campaigns like National Electric Mobility Mission and Green Hydrogen Mission were initiated with these goals in mind.
He said various measures have resulted in giving a push to sales of EVs.
“For the last few years, India has witnessed rapid growth in electric mobility. In the last decade, electric vehicle sales have increased 640 times. Ten years ago, only around 2,600 electric vehicles were sold in a year, but in 2024, more than 16.8 lakh vehicles were sold. That is, today twice as many electric vehicles are being sold in a single day as were sold in a whole year 10 years ago. It is estimated that by the end of this decade, the number of electric vehicles in India can increase up to 8 times. This shows how much the possibilities are increasing for you.”
Speaking about the demand in the automobile sector, he said that a young population will fuel the demand for new vehicles. “Needs and aspirations are very important for the development of the auto industry. And fortunately, both are vibrant in India today. India is going to remain the youngest country in the world for the next several decades. This youth is your biggest customer.”
He said that the middle class is another key enabler for sales. “In the last 10 years, 25 crore Indians have come out of poverty. This neo middle class is buying its first vehicle. As progress happens, they will also upgrade their vehicles. And the auto sector is sure to benefit from this.”
He said the auto industry grew by 12% last year. “India’s largest youth population, the ever-growing scope of the middle class, rapid urbanisation, modern infrastructure being built in India, affordable vehicles from Make in India, all these factors are going to push the growth of the auto sector in India, are going to give it new strength.”
He said exports are also increasing. “The population of many countries of the world is not as much as the number of vehicles being sold in India every year. Nearly 2.5 crore vehicles being sold in a year. It shows how the demand is constantly increasing. This shows why India is being looked up to with so much hope when it comes to the future of mobility.”
The PM said govt is focused to deal with the challenge of global warming and climate change, and thus is promoting solar power and alternative fuel.
“India has emphasised a lot on a green future during its G-20 presidency. Today, along with EV, work is going on at a very large level regarding solar power in India… In such a situation, the demand for batteries and storage systems is going to increase continuously.”