The Indian automobile is on course to outpace the US and China in the near future and emerge as a Rs 15-lakh-crore industry, Union Roads and Highways Minister Nitin Gadkari said.
Gadkari was speaking at the launch of the Bharat New Car Assessment Programme (NCAP) - India's first crash-testing programme to boost road and vehicle safety standards - in Delhi on August 22.
The Indian automotive industry is the third largest in the world after the US and China, by production. Gadkari shared his vision for the industry at the top slot globally from its current valuation of Rs 12.50 lakh crore. "People will soon be prefer India cost- and quality-wise, and we will be the lead automotive industry globally," said the minister.
He hailed the collaborative efforts of the industry, which helped the launch of the safety assessment programme under the Ministry of Road Transport and Highways (MoRTH).
Highlighting the key concerns of today - road accidents and pollution - Gadkari stressed on the need to combat these challenges strategically. Issuing the fresh set of crash-test guidelines under Bharat NCAP, he said higher safety standards will help the Indian automobile industry compete better in the international market. And, in turn, boost the export potential of the sector, he said.