Auto Industry could touch Market Size of 15 L Cr says Shri Nitin Gadkari at SIAM Annual Convention

Mumbai, September 15, 2022: Putting spotlight on Indian Auto Industry’s pivotal role in the nation’s economic growth, the Society of Indian Automobile Manufacturers (SIAM), the apex automobile industry body, marked its 62nd Annual Convention with deliberations on recovery and future potential of the automotive industry.

The 2nd special plenary session on “Indian Auto Industry for India’s Economic Growth”, Guest of Honour, Shri Nitin Gadkari, Hon’ble Union Minister of Road Transport & Highways, Government of India said “For making India a 5 trillion dollar economy and to achieve the Government’s vision of Aatmanirbhar Bharat, the automobile industry will play a critical role. Within the next 5 years, we are looking at making the auto industry touch a market size of 15 lakh crore. We strongly urge the industry to be quality, innovation and safety centric. With a thrust on innovation in renewable sources of fuel like ethanol based Flex Engine and green hydrogen, vehicular pollution can be reduced substantially.”

Mr Vinod Aggarwal, Vice President, SIAM and Managing Director & CEO, VE Commercial Vehicles Ltd., Mr Sunjay Kapur, President, ACMA and Chairman, Sona Comstar, Dr Bornali Bhandari, Senior Fellow, National Council of Applied Economic Research (NCAER) and Mr Girish Wagh, Chairman, SIAM Commercial Vehicle CEOs Council and Executive Director (CVBU), Tata Motors Ltd also spoke in this session.

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