ENA Sectors 2025-01-10 14:33:29 <p><span style="font-size:14px"><strong>Dhar, Jan 10 (KNN)</strong> In a landmark development for the Indian economy, Union Road Transport Minister Nitin Gadkari announced on Thursday that India has claimed the third spot in the global automobile sector, surpassing Japan.</span></p> <p><span style="font-size:14px">Speaking at a function held at the National Automotive Test Tracks (NATRAX) in Dhar, Madhya Pradesh, Gadkari expressed his aspiration to see India become the worlds leading automobile market.</span></p> <p><span style="font-size:14px">The minister highlighted Indias rapid ascent, noting that just six months ago, the country was ranked seventh in the world. Today, it stands tall behind only China and the United States, with the U.S. leading the sector at a size of Rs 78 lakh crore and China at Rs 47 lakh crore.</span></p> <p><span style="font-size:14px">This remarkable growth is a testament to the resilience and innovation of the Indian automobile industry, he remarked.</span></p> <p><span style="font-size:14px">Gadkari praised the sector as a critical pillar of Indias economy, stating, The automobile industry has generated 4.50 crore jobs, making it the highest job-creating sector in the country.</span></p> <p><span style="font-size:14px">Underlining its financial significance, he revealed that the industrys size has grown from Rs 7.5 lakh crore when he took office to an impressive Rs 22 lakh crore today. Our automobile industry is also the largest contributor to GST revenue for both state and central governments, he added proudly.</span></p> <p><span style="font-size:14px">The minister emphasised the sectors pivotal role in achieving Prime Minister Narendra Modis vision of transforming India into a USD 5 trillion economy and the third-largest global economy. The automobile industry forms the backbone of this mission, he asserted.</span></p> <p><span style="font-size:14px">Reflecting on the sectors strategic importance, Gadkari expressed confidence in its potential to propel India to the top of the global automobile rankings.</span></p> <p><span style="font-size:14px">With our economy being one of the strongest and fastest growing in the world, the dream of making India number one in the automobile sector is not far-fetched, he said.</span></p> <p><span style="font-size:14px">The announcement marks a significant milestone, reinforcing Indias position as a rising global economic powerhouse and setting the stage for an even brighter future in the automobile industry.</span></p> <p><span style="font-size:14px"><strong><em>(KNN Bureau)</em></strong></span></p> 40588 https://knnindia.co.in/news/newsdetails/sectors/india-becomes-third-largest-automobile-market-surpassing-japan-nitin-gadkari 2025-01-10 14:33:29 knnindia.co.in