02 Feb 2024
On Friday (2nd Feb), Prime Minister Narendra Modi attended the Bharat Mobility Global Expo 2024 at Bharat Mandapam in New Delhi.
Prime Minister Narendra Modi, speaking at the Bharat Mobility Global Expo 2024, showed belief in India's quick rise to become the world's third-largest economy. With the upcoming general elections in April-May this year, PM Modi highlighted the nation's big progress in different areas. Union Ministers Piyush Goyal, Hardeep Singh Puri, and Nitin Gadkari were also attending.
India’s Third Term For Economic Projections
PM Modi said, "India is certain to become the third largest economy in the world in the third term of our government. During the past 10 years, around 25 crore people have come out of poverty due to the efforts of the government. Today's India is moving forward with the goal of making the country 'developed' by 2047. The mobility sector will play a huge role in the achievement of this goal." He highlighted how important it is for transportation to help India become a 'developed' country by 2047.
Mobility Sector in the Transformative Growth
Speaking about the advancements in the mobility sector, the Prime Minister highlighted the significant transformations India has experienced over the past decade. He noted that prior to 2014, 12 crore vehicles were sold, but since then, the number has risen to over 21 crore. Additionally, electric vehicles, which were only 2,000 in number ten years ago, now see an annual sale of 12 lakh.
"There has been an unprecedented change in the mobility sector. Today's India is relying on new policies, keeping in mind the future scenario," PM Modi affirmed.
"There has emerged a new middle class in the country with its own aspirations and hopes. The income and threshold of the middle class have been expanded. These factors will ensure new heights in the mobility sector. Before 2014, there were 12 crore cars sold in India. Since 2014, there has been a sale of over 21 crore cars," he said.
"Before 2014, 2,000 crore electric cars were being sold annually. Now, around 12 lakh electric cars are being sold on an annual basis. India has witnessed a 60 per cent rise in the number of passenger car sales. The sale of two-wheelers has also seen a 70 per cent rise in the number," added the Prime Minister.
About Bharat Mobility Global Expo 2024
The Bharat Mobility Global Expo 2024 is set to exhibit India’s capabilities across the entire mobility and automotive value chains. This Expo will include exhibitions, conferences, buyer-seller meets, state sessions, a road safety pavilion, and fun attractions like go-karting.
With more than 800 exhibitors coming from over 50 countries, the Expo aims to showcase cutting-edge technologies, sustainable solutions, and breakthroughs in mobility. It will witness participation from over 28 vehicle manufacturers and over 600 auto component manufacturers. Additionally, more than 1000 brands from over 13 global markets will display their full range of products, technologies, and services at the event.
In addition, the event will feature state sessions where states can display their regional contributions and initiatives. This aims to encourage collaboration at both national and regional levels, promoting a comprehensive approach to mobility solutions.
