India will soon be in a position to export Lithium-ion batteries: Nitin Gadkari

Speaking at the Society of Indian Automobile Manufacturers (SIAM's) 64th convention in New Delhi, the Union Minister expressed confidence in India's potential to export lithium-ion batteries globally. He highlighted ongoing research into various materials, including aluminum and different types of chemistry, noting the significant market opportunities in this sector. Gadkari mentioned that government initiatives and incentives have encouraged many Indian companies, such as Adani, Tata, Maruti, LG, and Samsung, to enter the lithium-ion battery manufacturing business. He drew parallels with the semiconductor industry, asserting that the government's favorable policies would position India as a leader in semiconductor manufacturing within the next few years. Gadkari projected that India's electric vehicle (EV) market could grow to one crore units of annual sales by 2030, creating five crore jobs and reaching a potential market value of Rs 20 lakh crore. He urged the industry to focus on quality, innovative designs, and the latest technology to remain competitive and boost exports, emphasizing that consumers are increasingly conscious of quality. To support these efforts, the government is establishing a testing agency aimed at enhancing research and development in vehicle manufacturing. A CIIT Training Institute will be set up in Pune with a sanctioned budget of Rs 450 crore. Gadkari explained that this new venture would meet international standards and provide comprehensive facilities for the industry, with plans to commence the project within three months. Furthermore, the Union Minister called on the automobile industry to collaborate with the government on India's scrappage policy. He encouraged manufacturers to promote better incentives for scrapping old vehicles, highlighting that vehicle sales in the USA and Europe have increased by 9 to 12 percent due to similar policies. Gadkari thanked the industry for agreeing to offer a 3 percent discount to vehicle owners who scrap their old vehicles, suggesting that this initiative could reduce component costs by 20-40 percent. He urged manufacturers to establish their own scrappage centers. In closing, Gadkari emphasized the automobile industry's critical role in realizing the Prime Minister's vision of transforming India into a $5 trillion economy and elevating it to the world's third-largest economy. He expressed ambition for India to become the leading auto manufacturing hub globally while targeting carbon neutrality by 2070 through innovation and sustainable practices in the auto sector.