India Invites Global Investments in Booming Mobility Sector

Prime Minister Narendra Modi urged global investments in India's rapidly growing mobility sector, promising government support. Speaking at the Bharat Mobility Global Expo, Modi highlighted opportunities in solar and battery storage sectors, encouraging startups and foreign players like Tesla. India's auto industry is primed for further expansion.

During the Bharat Mobility Global Expo in New Delhi, India's Prime Minister Narendra Modi made a compelling call for global investments in mobility, pledging government support at every level. Addressing an audience that included key industry leaders, Modi emphasized India's position as the world's third-largest car market and highlighted its youth-driven growth potential.

Modi assured stakeholders of the government's unwavering commitment to facilitating industry reforms and policy developments. His speech underscored the importance of leveraging India's strengths, such as its burgeoning middle class and rapid urbanization, as factors contributing to the auto industry's annual 12% growth.

The Prime Minister also pointed to India's advances in solar energy as a catalyst for battery storage demand. He invited entrepreneurs and international companies, including Tesla, to capitalize on the promising electric vehicle market, which currently comprises 2% of India's car sales. Modi emphasized the timing as ripe for startups in the energy storage sector.

(With inputs from agencies.)