My cabinet colleagues Shri Nitin Gadkari ji, Narayan Rane ji, Piyush Goyal ji, Hardeep Singh Puri ji, Mahendra Nath Pandey ji, all the stalwarts of the industry, other dignitaries, ladies and gentlemen!

Just now, I was listening to Piyush Ji, and he mentioned - 'your presence boosts our morale'. However, observing the kind of stalwarts present here, we now know who actually are boosting our morale. Firstly, I extend my congratulations to the Automotive Industry for organizing this splendid event. Although I couldn't visit every stall today, those I did see left a lasting impression. Such events in our country bring immense joy. I have never purchased a car or even a bicycle, so I lack experience in that regard. I would also encourage the people of Delhi to come and witness this expo. This event has brought together the Mobility Community and the entire supply chain on one platform. I extend a warm welcome to all of you at the Bharat Mobility Global Expo and wish you all the very best. Perhaps some of you may recall that during my first term, I had planned a global-level mobility conference. If you reflect on that period, the summit covered topics like the reason for focusing on batteries and the swift transition to electric vehicles in great detail with the participation of global experts. Today, during my second term, I see significant progress being made. I am confident that during the third term....well, a word to the wise is sufficient. Given that you are part of the mobility sector, this message will spread rapidly across the country.

Friends,

Today's Bharat is progressing with the aim of becoming a developed nation by 2047. The mobility sector is set to play a significant role in achieving this goal. As I mentioned from the ramparts of the Red Fort and reiterate today, I had a vision, and my confidence in it was not mine alone. The expression of confidence stemmed from the strength of 140 crore countrymen. On that day, from the ramparts of the Red Fort, I declared, 'this is the time, this is the right time.' This mantra aligns perfectly with your sector. In a way, India is on the move, and is moving fast. It marks the beginning of a golden period for Bharat's mobility sector. Currently, Bharat's economy is expanding rapidly. As I stated earlier, Bharat is poised to become the world's third-largest economy during our government's third term. Due to the government's efforts, about 25 crore people have risen out of poverty in the last 10 years. The aspirations of these individuals, upon emerging from poverty, include acquiring a bicycle, scooty, or scooter, and if possible, even a four-wheeler. This vast neo-middle class in Bharat, formed by these 25 crore people, harbours its hopes and aspirations. The level of aspiration in this society, this economic startup, is scarcely witnessed elsewhere. Similar to the special period in a person's life between 14 and 20 years, the neo-middle class experiences a unique phase. Addressing this demographic could propel us to great heights. On one hand, we have the neo-middle class with its aspirations, while on the other, the scope and income of the middle class in Bharat are rapidly increasing. These factors are poised to elevate Bharat's mobility sector to new heights. Amidst the growing economy and increasing income, rising figures will boost the morale of your sector. These figures were not created by Modi. In the ten years before 2014, around 12 crore vehicles were sold in Bharat, whereas since 2014, over 21 crore vehicles have been sold in the country.

 A decade ago, approximately 2000 electric vehicles were sold in Bharat annually. Presently, about 12 lakh electric vehicles are sold in Bharat each year. Passenger vehicle sales have surged by 60 percent in the last 10 years, and two-wheeler sales in Bharat have also increased by more than 70 percent. Recent data released yesterday reveals that car sales in January have broken all previous records. Those with such record sales are present here, correct? Don't worry, the income tax department is not listening, so don't panic. For all of you, an unprecedented positive environment in the mobility sector is evident on the ground today. Seize this opportunity and make the most of it.

Friends,

Today's Bharat is formulating new policies with an eye on future needs. The mobility sector undoubtedly holds a special place in this vision. You must have witnessed this vision in yesterday's budget. It was an interim budget, and the complete budget will be presented when we come for the third time. In 2014, Bharat's capital expenditure was less than Rs 2 lakh crore, and today it has surpassed Rs 11 lakh crore. The announcement of allocating Rs 11 lakh crore to Capital Expenditure has opened up numerous opportunities for Bharat's mobility sector. This not only strengthens the economy but also creates new employment opportunities. Due to this unprecedented investment, every sector of rail, road, airway, and waterway transport is undergoing transformation in Bharat. We are challenging the seas and mountains, creating one engineering marvel after another, and achieving these feats in record time. From the Atal Tunnel to Atal Setu, Bharat's infrastructural development is setting new records. In the last 10 years, 75 new airports have been built in Bharat, approximately 4 lakh kilometres of rural roads have been constructed, and 90 thousand kilometres of national highways have been developed. High-speed corridors spanning 3500 kilometres have been established. Metro rail has been introduced in 15 new cities, and 25 thousand kilometres of rail routes have been constructed. In this year's budget, it has been announced to modernize 40 thousand railway coaches, similar to those of the Vande Bharat train. These 40 thousand coaches will be installed in ordinary trains, reshaping the landscape of Indian Railways.

Friends,

The speed and scale of our government have redefined mobility in Bharat. Our emphasis has been on completing projects on time, avoiding delays, deviations, and pending issues in transportation. Historic changes have been made to ease transportation and address logistics challenges. The country is now promoting Integrated Transport under the PM Gatishakti National Master Plan. Regulatory framework has been established in GIFT City for Aircraft and Ship Leasing. The government has introduced the National Logistics Policy to modernize the logistics chain, and Dedicated Freight Corridors have been developed to reduce the time and cost of transporting goods. The newly announced three railway economic corridors in the budget will further enhance transportation ease in Bharat.

Friends,

Connectivity in Bharat has been continually reinforced through the construction of National Highways and modern expressways. The implementation of GST has streamlined the movement of goods and eliminated check posts at state borders. Fast-tag technology is saving both fuel and time for the industry, providing an annual benefit of Rs 40 thousand crore to the economy, according to a study.

Friends,

Bharat is on the cusp of becoming an economic powerhouse of the world, with the Auto and Automotive Component Industry set to play a crucial role. Your industry has a substantial representation in the country's total exports. Today, Bharat is the third-largest market for passenger vehicles and the third-largest manufacturer of commercial vehicles globally. Our components industry is also becoming globally competitive. In this 'Amritkaal,' our aim is to become the world leader in these fields, and the government fully supports your efforts. A Production Linked Incentive Scheme of over Rs 25 thousand crore has been created for the industry, contributing to the self-reliance of the entire value chain and empowering MSMEs. Additionally, a PLI scheme of Rs 18 thousand crore for battery storage has been initiated. And let me tell you what I am thinking when it comes to battery storage. Taking forward the clean cooking movement; suppose there are 25 crore houses in the country and the system of rooftop solar and battery storage exists in each of these houses enabling the system of cooking through it, that means the system of clean cooking requires 25 crore batteries. That in turn will create a demand for batteries several times more. That will automatically make the batteries for vehicles very cheap. Now you can comfortably shift to this field, and create a complete package. 

Looking ahead, the government envisions integrating rooftop solar power systems with electric vehicles.  Yesterday the government made an announcement to provide at least 300 units of free electricity through rooftop solar power to one crore families in the first section. And as per my plan, the rooftop solar power system should help people charge their electric vehicles in their house itself. While a person's car, scooty or scooter is parked at night, it should get charged overnight which can then be utilised in the morning. That is, in a way, linking the decentralized system with the roof top solar system is envisioned. You should keep all these factors in mind while making plans for your future. I am with you.To further improve research and testing, Rs 3200 crore has been allocated to the National Project. The National Electric Mobility Mission has given a boost to the manufacturing of Electric Vehicles in Bharat. The government has invested about Rs 10 thousand crores to stimulate demand for EVs, and the FAME Scheme has successfully introduced thousands of electric buses in cities, including Delhi. Furthermore, subsidies are being provided by the government to establish EV Charging Stations.

Friends,

As mentioned in yesterday's budget, a fund of Rs 1 lakh crore has been announced to stimulate research and innovation. There is also a decision to expand the tax exemption available to startups, paving the way for new possibilities in the mobility sector. The primary challenges facing Electric Vehicles (EVs) today, namely their cost and batteries, can be addressed through research funded by this initiative. Our Rooftop Solar Scheme includes a component related to EV manufacturing, which will benefit the auto sector. As the number of solar rooftops increases, the demand for batteries will naturally rise, offering substantial growth opportunities in this sector. Additionally, I would like to mention something. The industry can engage in research to create new types of batteries using raw materials available in Bharat because the world is concerned about resource sustainability.  Why don't we take alternate resources from now on?  I believe that the country can provide, and many people are also working on sodium. Furthermore, the auto sector is encouraged to explore new research avenues in not only batteries but also Green Hydrogen and Ethanol. Startups have already contributed significantly to the Drone Sector in Bharat. This fund can also be used in research related to drones. Bharat's waterways have proven to be cost-effective transportation means, and the shipping ministry is moving towards creating hybrid vessels using indigenous technology. The industry is urged to embrace these advancements.

Friends,

Amidst market discussions, attention is drawn to a critical human aspect within the mobility sector – the lakhs of drivers who play a vital role. Truck and taxi drivers play an integral role in our social and economic system. Frequently, these drivers endure prolonged hours behind the wheel, yet owners consistently question or berate them for delayed arrivals. Consequently, the drivers are deprived of sufficient time for rest. In these challenging circumstances, these individuals often fall prey to road accidents. The government recognizes the challenges faced by truck and taxi drivers and their families. I am pleased to inform you that the Central Government has initiated a new scheme aimed at enhancing the comfort of drivers during their journeys. Within the framework of this initiative, modern buildings with new facilities will be established along all national highways to cater to drivers' needs. These buildings will encompass comprehensive provisions, including food services, clean drinking water, sanitation facilities, parking spaces, and areas for drivers to rest. The government is gearing up to commence the construction of a thousand such facilities nationwide in the initial phase of this program. These dedicated buildings for truck and taxi drivers will not only contribute to the improvement of their living conditions and travel experiences but also enhance their overall well-being, thereby playing a crucial role in accident prevention.

Friends,

Looking ahead, the mobility sector holds immense possibilities for the next 25 years. To fully capitalize on these opportunities, the industry must undergo rapid transformation. The sector requires a skilled technical workforce and trained drivers. Today, more than 15 thousand ITIs in the country provide manpower to this industry. Can't people from the industry collaborate with these ITIs to make the courses more relevant? Additionally, you must be aware of the government's scrappage policy, offering road tax exemptions for old vehicles given for scrapping when purchasing new ones, could inspire the auto industry to provide similar incentives to encourage participation.

Friends,

You have bestowed the expo with the tagline 'Beyond Boundaries.' These words encapsulate the spirit of Bharat. Today, our aim is to dismantle old barriers and foster global unity. We aspire to amplify Bharat's influence in the global supply chain. The Indian Auto Industry stands before a vast expanse of possibilities. Let us stride forward in line with the vision of 'Amritkaal,' aspiring to make Bharat a global leader in this domain. I just had a look at the area of tyres. Since day one, I have harboured concerns regarding the tyre industry. It perplexes me that, despite being an agricultural nation, Bharat imports rubber. Have the members of the tyre industry collaborated with farmers to implement necessary technological advancements, offering guidance and assured markets? I firmly believe that Indian farmers can meet the rubber demands. Though genetically modified rubber trees have undergone considerable research, their usage remains limited in Bharat. I implore tyre manufacturers and industries linked to rubber to engage with farmers. Let us progress with an integrated, comprehensive, and holistic approach, avoiding fragmented thinking. Yes, rubber is available from abroad, but why not produce our own? Envision a scenario where our farmers become more robust; they will then purchase four additional cars in our country. Whichever car they choose, the tyres will be from you. What I wish to convey is that, when gathered in such numbers for the first time, contemplate how to rejuvenate your approach and foster innovative ideas, supporting each other. We find ourselves at a juncture where collaborative efforts will bolster our strength, and we should not miss the opportunity to lead the world.

Friends!

Be it the realm of design, or any other major field, there is hardly a field worldwide without a research lab in Bharat. Bharat possesses the talent for design. Let us generate designs originating from the minds of our people so that the world recognizes the vehicle as Indian-made. This sentiment should be cultivated. Any passerby on the road should proudly exclaim, "Hey, this is a Made-in-India car—just take a look at the car." If you believe in yourselves, the world will believe in you. When I spoke about Yoga at the UN, returning to Bharat, people questioned me, but today the world acknowledges its significance. Have faith in yourselves, stand with strength, and let there be no corner of the world where your presence is not felt, friends. Wherever your eyes wander, your cars should be seen. Best wishes to all of you! Thank you.

DISCLAIMER: This is the approximate translation of PM’s speech. Original speech was delivered in Hindi.

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DS/VJ/IG/AK