New Delhi | Union Minister for Transport Nitin Gadkari on Thursday broke silence on the slowdown in the auto sector and blamed it on the global economy.
“As far as present economic data is concerned, automobile sector is facing a slowdown.. because of the global economy, because of demand and supply…the government is with the automobile sector,” he said.
Speaking at the Society of Indian Automobile Manufacturers (SIAM) annual convention, the Minister clarified that the government did not plan to ban the sales of ICE (internal combustion engine) vehicles.
Addressing the rumours that introduction of Electric Vehicles will lead to a decline in automobiles that use fuel, he clarified, “There was no deadline [to move to electric vehicles] and the government has no intention of putting a deadline. But you have to see that we import crude oil worth ₹7 lakh crore, then there is the issue of pollution. So we are promoting alternative fuels and electric vehicles. We are not banning petrol and diesel vehicles.”
He added that the government was also looking at more ways to help the sector, including the possibility of providing some incentives for exports to push sales.
“Already the Finance Ministry has taken some decisions…The government is doing their level best to get more finance, particularly for automobiles. Today, I suggested firms to make financing firms within their own company and they can finance. this can also help,” he added.
Watch: Indian auto sector at 20 years low, 2 lakh jobs lost
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