Union Minister Nitin Gadkari on Friday called for the domestic automobile industry to adopt Make in India, asserting that there should be no import of auto components, and all the components should be made in the country at a reasonable price.
Speaking at an event, the minister for MSME and Road Transport and Highways said "by accepting new technologies, we are going to create new markets, more profits, turnover, and more employment potential in the country".
He said the government was in the process of encouraging MSMEs, with good track record of the past five years in terms of bank turnover, GST, income tax and based on balance sheet, to raise capital from the capital market.
Addressing an event through video conferencing, the minister said that "we are trying to make the ethanol-economy from present size of 20,000 crore rupees to Rs 2 lakh crore".
Suggesting the automobile industry to adopt the Make in India programme and Made in India, the minister said there should be no import of auto components and 100 per cent components should be made in India at a reasonable price, an official statement said.
He said the government is increasing the expenditure on infrastructure.
"We are trying to convert transport on electricity like going for electric trucks, electric mass rapid transport, creating public transport on electricity," said the minister.
Mentioning the rebound of the country's economy, the minister said that "for the last two months, the growth rate is going in a positive direction and within six months, it is going to be in a very good position".
Gadkari said road transport has been given the highest priority and an amount of Rs 1,18,000 crore has been sanctioned for road and transport in the Budget.
Hailing speed of road construction in India, Gadkari said that "presently, a record-breaking 34 km per day of road is being constructed, making India second-biggest road network in the world".