India stands as an “outstanding destination” for every investor looking to shape their future in the mobility sector, said Prime Minister Narendra Modi Friday, adding the government will extend all possible support to develop the country as a hub for manufacturing green vehicles.

Budget with ET India looks to bring more women into workforce A game changing budget to revive India’s backbone - agriculture How would you plan India's Budget? Give it a try The Prime Minister, who inaugurated the second edition of the Bharat Mobility Global Expo 2025 at Bharat Mandapam, said the country is focusing on the development of green technology, EVs, hydrogen fuel and biofuels . Modi said the government is working on a mobility system which can support both the economy and the ecology, and create a system which can reduce the country’s bill on the import of fossil fuels.

Sales of electric vehicles have increased by as much as 640% in the last 10 years; and with new product interventions, policy support is set to grow eight times over the next five years, Modi informed.

It is the right time to invest in battery storage system in India, he added.

EV calculator How much will I save if I choose an electric vehicle? SELECT vehicle type Calculate He said ‘Make in India’ initiative has played a huge role in the development of auto industry.

The initiative further got bolstered by the Production Linked Incentive (PLI) schemes announced by the government.

The PLI scheme has helped in the sales of more than Rs 2.25 lakh crore in the automotive sector and has helped created more than 1.5 lakh direct jobs in the industry.

Deepening localisation will help increase production as well as consumption, ultimately aiding in the growth of the auto sector.

The government is also investing heavily in developing infrastructure which will help bring down logistics costs and aid the industry.

“Ease of travel is a big priority of India.

In the last budget, more than Rs 11 lakh crore were provisioned for the development of infrastructure,” the Prime Minister said, and added the network of multi-lanes and highways were expanded.

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Modi noted the number of cars sold annually in India surpasses the population of many countries.

He informed the sale of approximately 2.5 crore cars in a year demonstrates the continuously growing demand in India.

The Prime Minister emphasized that this growth showcases why India is viewed with such high expectations when it comes to the future of mobility.

“India is currently the world's fifth-largest economy and the third-largest passenger vehicle market”, Modi said, adding as India rises to become one of the top three economies globally, the country's auto market will witness unprecedented transformation and expansion.

Encouraging corporates to invest in the sector, Modi said the rising middle class, rapid urbanisation, high quality infrastructure development, and affordable vehicles are going to push automobile sector.

He said, “For many decades to come, India will remain the youngest country in the world.

They (young Indians) are your largest customers, they will generate a lot of demand.

Another customer set (for auto sector) is India’s rising middle class.

Over the last 10 Yeats, 25 crore people came out of poverty.

This neo middle class is buying their first vehicle and as they prosper, they will upgrade and this will benefit the auto sector”, he held.

The endeavour of the government is to develop a complete ecosystem for mobility, the PM said.

The five-day expo which is being held across three venues — Bharat Mandapam and Yashobhoomi in the national capital and India Expo Center and Mart, Greater Noida — is expected to witness over 100 new launches across automobiles, component products and technologies.

The Bharat Mobility Global Expo 2025, scheduled from January 17-22, will bring the entire value chain of the mobility ecosystem — from automobile manufacturers to components, electronics parts, tyre and energy storage makers, and automotive software firms and material recyclers — under a single umbrella.