The government has formulated a scheme for faster adoption and manufacturing of electric and hybrid vehicles in India.
The Dollar Business Bureau
Underlining the government’s agenda of making automobile industry as the key driver of Make in India initiative, the Ministry of Heavy Industries and Public Enterprises on Friday said the government has formulated a scheme for faster adoption and manufacturing of electric and hybrid vehicles in India, a part of the National Electric Mobility Mission 2020, to promote the introduction of reliable, affordable and efficient electric and hybrid vehicles in the domestic market.
Addressing a CII International Automotive Design Conclave 2016 in New Delhi on Friday, Girish Shankar, Secretary, Ministry of Heavy Industries and Public Enterprises said, “Both the industries and industrial organisations have to explore the development of funding strategies/models/mechanisms for design and development and how the outcome of these strategizes can be monetised.”
The automobile industry expects the country’s passenger vehicles segment to reach 9.4 million units by 2026. The Auto Mission Plan (AMP) 2016-26 has also highlighted the same level of growth for the industry.
Meanwhile, NITI Aayog Chief Executive Officer Amitabh Kant said India could become the source of design and innovation for the world market. A development in this sphere will enable the industry to attain and sustain 9-10 % growth rate.
Kant noted that private sector could play a crucial role in harnessing the growth potential of the design industry and that the sector should also start design institutes for nurturing talent and innovating minds, while looking to penetrate global markets with larger exports, thereby becoming a part of the Global Supply Chain. He also announced that India will very soon open 4-5 design institutes.
“Make in India is also about Intellectual Property Rights, Innovation and continuous improvement. Digital/IT companies and manufacturing companies need to work together to create a disruptive culture for creating globally competitive designs. He also said that design is all about simplicity,” Kant said.