Summary:

Union Minister Nitin Gadkari stated that India currently has 63 operational scrapping centers, with 60 under construction and 40 planned, though more are needed. Speaking at the Society of Indian Automobile Manufacturers (SIAM) convention, he projected that the scrapping industry will boost sales by 18-20% and create 35,000 jobs. Gadkari also unveiled a new $53.6 million testing facility in Pune, emphasizing the importance of world-class testing and alternative fuels, with a goal of establishing 20,000 CNG stations by 2030.

The government plans to promote a gas and methanol economy to reduce LPG prices and increase LNG use in trucks, potentially saving up to $14,293.71 (Rs. 12 lakh) annually. With a $95.29 billion (Rs. 8 lakh crore) investment, it aims to advance hydrogen technology by producing 5 million metric tonnes per year, generating 125 GW of electricity and creating 6 lakh jobs. The auto industry, contributing 35% to manufacturing and generating $41.69 billion (Rs. 3.5 lakh crore) in GST, is crucial to India’s $5 trillion economic goal. Road safety remains a concern, with 5 lakh accidents and 1.68 lakh deaths last year, and the EV sector is expected to reach $238.24 billion (Rs. 20 lakh crore) by 2030, with EVs comprising 56% of two-wheelers.

Source: IBEF 

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