To assist the poor, the auto industry should conduct need-based research by Nitin Gadkari

Union Minister Nitin Gadkari said on Saturday that the auto industry should conduct need-based research to address issues ranging from fuel to engineering. The Road Transport Minister stated during the silver jubilee celebration programme of the Society of Automotive Engineers India (SAEINDIA) in Pune that there is a need for the auto industry to go for need-based research that will help the poor.

You (the auto industry) should address issues ranging from fuel to engineering based on need-based research and an understanding of the country's requirements, the minister said. He stated that the automobile industry should always have a vision that will help the country become self-sufficient, and that quality should be prioritised.

The automobile industry is one of the country's most important strengths, he said, with a turnover of Rs 7.5 lakh crore, exports of Rs 3.5 lakh crore, a GDP contribution of 7.1%, manufacturing GDP of 49%, and employing over 4.5 crore people. I believe that by the end of 2025, our automobile sector will have become the world's number one manufacturing hub, and we will be exporting to the entire world, said the minister.

Gadkari stated that the Vehicle Scrappage Policy 2021 will help to reduce costs in the automobile industry by nearly 30%. Because of the Scrappage Policy, we will be able to reduce costs by 30%, he said. The sector will be worth Rs 15 lakh crore by the end of 2025, creating 2.5-3 crore new job opportunities, according to the minister.

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