New Delhi: Prime Minister Narendra Modi said that the future of mobility belongs to India as the country witnesses unprecedented growth in the automotive sector, with annual vehicle sales reaching 2.5 crore and inflow of USD 36 billion in Foreign Direct Investment (FDI) over the past four years. Speaking at the inauguration of the Bharat Mobility Global Expo 2025 at Bharat Mandapam on Friday, PM Modi emphasised India’s pivotal position as an attractive destination for investors looking to shape the future of the mobility industry.
The five-day Bharat Mobility Global Expo 2025, being held from January 17-22, is showcasing over 100 new launches across automobiles, component products, and technologies at three major venues—Bharat Mandapam and Yashobhoomi in Delhi, and India Expo Center & Mart in Greater Noida. The event brings together the full mobility ecosystem, including manufacturers, component makers, and technology innovators.
PM Modi highlighted that India’s automotive sector is driven by innovation and technology and is undergoing a remarkable transformation. He pointed out that the ‘Make in India’ initiative has unleashed growth potential in the auto industry, with the performance linked incentive (PLI) schemes further boosting the sector's success.
India is now the world's fifth-largest economy and third-largest passenger vehicle market. PM Modi noted that with the expansion of India’s economy, the automotive industry will see unprecedented growth. Factors such as the youth population, the expanding middle class, rapid urbanisation, and the government’s focus on infrastructure development are key drivers behind this momentum.
PM Modi also mentioned that the growing middle class and rising economic prosperity have resulted in millions of new vehicle buyers, with over 25 crore Indians transitioning into the neo-middle class over the past decade.
The prime minister underscored India's commitment to creating a sustainable mobility system, focusing on green technologies such as electric vehicles (EVs), hydrogen fuel, and biofuels. He highlighted the remarkable growth in the EV sector, noting that the number of electric vehicles sold has increased by 640 times over the past decade—from just 2,600 units annually to over 16.8 lakh in 2024.
PM Modi projected that electric vehicle sales could rise eight-fold by 2030, reflecting the sector’s immense potential for growth.
PM Modi reiterated the government's continued support for the auto sector, which has led to significant increases in FDI, technology transfers, and global partnerships. In the past four years alone, India attracted USD 36 billion in FDI, a figure expected to grow even further.
He encouraged manufacturers to take advantage of the vehicle scrapping policy, which could serve as a catalyst for more sustainable automotive practices.
In his address, PM Modi also paid tribute to industry stalwarts Ratan Tata and Osamu Suzuki, acknowledging their immense contributions to the growth of India's auto sector and the fulfillment of the dreams of countless middle-class families. Their legacy, he said, would continue to inspire future generations in the mobility industry.
Commerce and Industry Minister Piyush Goyal spoke on how Bharat Mobility 2025 represents India’s global success story, further positioning the country as a hub for mobility innovation and investment. He highlighted that India has become the world’s largest manufacturer of three-wheelers and tractors, and remains the top two-wheeler market globally.
Several Union ministers, including Nitin Gadkari, Manohar Lal, H.D. Kumaraswamy, Jitan Ram Manjhi, and Hardeep Singh Puri, were also present at the event, underlining the government's strong commitment to supporting India's growing automotive sector.
