4-fold growth, 25 million jobs
29 January 2007
Sindhu Bhattacharya
NEW DELHI: The automobile industry is envisaging over a four-fold growth to reach the $145-billion mark, at an investment of about $40 billion, by 2016. Over the next decade, this industry would begin accounting for 10% of the country’s gross domestic product (GDP) and provide additional employment to 25 million people, as per the Auto Mission Plan (AMP) 2006-16 unveiled by Prime Minister Manmohan Singh on Monday.
Releasing the AMP, the PM said that amid growing global concerns about climate change, the auto industry stakeholders must invest in environment-friendly and fuel-efficient technologies.
Heavy industries minister Sontosh Mohan Deb said: “In co-operation with the industry, the AMP has been finalised as a document to be followed by the government and the industry to make India a global player.”
By 2016, auto exports are also expected to witness a quantum jump — from the current $4.1 billion to $35 billion.
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