India's automobile market will become world's No.1 in the next five years, leaving behind America and China

Union Minister Nitin Gadkari expressed confidence regarding India's automobile industry on Tuesday. He stated that India's automobile industry will reach the number one position in the world in the next five years. During this, he highlighted his ministry's ambitious target of reducing logistics costs in India by nine percent within two years. Speaking at the Amazon Sambhav Summit, the Road Transport and Highways Minister mentioned the growth of India's automobile industry.

Gadkari said that since he took charge, it has increased from Rs 7 lakh crore to Rs 22 lakh crore. The US is in first place with a cost of Rs 78 lakh crore followed by China's automobile market in second place with Rs 47 lakh crore. The minister said that the presence of prestigious global automobile brands in India indicates the country's potential. He clarified his ministry's target to reduce logistics costs in India to single digits within two years.

Further, Nitin Gadkari said that logistics cost in India is 16 percent and in China, it is eight percent, in the US and European countries it is 12 percent. The government has decided to reduce logistics costs. Our target is that within two years, we will bring down logistics costs to nine percent. During this, Gadkari also talked about specific projects that will significantly reduce travel time between major cities. He said that the journey from Delhi to Dehradun currently takes nine hours, but from the beginning of next year, it will take only two hours to cover this distance. Similarly, travel time between Delhi-Mumbai and Chennai-Bengaluru is also expected to reduce significantly.