Udayavni Special

India’s auto sector may attract USD 8-10 bn investments by 2023: Govt


Team Udayavani, Dec 28, 2018, 1:01 PM IST

New Delhi: The country’s automobile sector, which attracted USD 16.5 billion in FDI between April 2000 and December 2016, is expected to attract USD 8-10 billion more in local and foreign investments by 2023, the government said Thursday.

The Year End Review 2018 of the Ministry of Heavy Industries and Public Enterprises, which made the projections, said growth of the industry in India since early 1990s is an example of how industrial prowess supported by progressive policies and national economic growth can yield rewards to all stakeholders.

The government and the automotive sector articulated their objectives for the future of the industry through the Automotive Mission Plan 2016-26.

“The plan envisions that by the year 2026, India will be the third in the world after China and USA in engineering, manufacturing and export of vehicles and auto components,” the ministry said.

Besides, it said collective efforts of all central public sector enterprises will help India become a USD 5-trillion economy in the next five years. 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Nikhil Kumaraswamy tests Covid positive on first wedding anniversary

COVID: Hazrat Nizamuddin Aulia Dargah to remain closed till April 30

Joona Akhara announces end of its participation in Kumbh Mela

Prince Philip laid to rest in Royal Vault at Windsor Castle

Karnataka reports biggest single day spike of 17,489 COVID cases, 80 deaths

Queen sits alone at funeral for Prince Philip to set example

Dog tied to scooter,dragged on road in Kerala; cops register case




Related Articles More

Cyber agency cautions users against certain weaknesses detected in WhatsApp

Researchers led by Indian-origin scientist identify genes that fight virus causing COVID-19

Google introduces Timelapse in Google Earth’s biggest update since 2017

F1 2021 revealed: Xbox series X|S and PlayStation 5

Users could soon be able to hide ‘like’ counts on Instagram, Facebook

MUST WATCH

George Kadiyali | Can We Grow More Food on Less Land?

Udayavani 17-April-2021 News Bulletin

The fear of Covid 2nd Wave!!

Congress Karyakartas accuses police

Success story of a retired teacher in Betel Leaf Farming | Betel Leaf Cultivation

Latest Additions

Nikhil Kumaraswamy tests Covid positive on first wedding anniversary

COVID: Hazrat Nizamuddin Aulia Dargah to remain closed till April 30

Joona Akhara announces end of its participation in Kumbh Mela

Prince Philip laid to rest in Royal Vault at Windsor Castle

Karnataka reports biggest single day spike of 17,489 COVID cases, 80 deaths

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.