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<section class="container article-section status_prime_article single-post currentlyInViewport inViewPort" id="news_dtl_107098968" data-article="0" page-title="SIAT 2024: India's auto revolution in top gear with PLI Scheme triggering EV growth to global leadership says Haneef Qureshi" data-href="https://auto.economictimes.indiatimes.com/news/industry/siat-2024-indias-auto-revolution-in-top-gear-with-pli-scheme-triggering-ev-growth-to-global-leadership-says-haneef-qureshi/107098968" data-msid="107098968" data-news="{"link":"/news/industry/siat-2024-indias-auto-revolution-in-top-gear-with-pli-scheme-triggering-ev-growth-to-global-leadership-says-haneef-qureshi/107098968","seolocation":"/news/industry/siat-2024-indias-auto-revolution-in-top-gear-with-pli-scheme-triggering-ev-growth-to-global-leadership-says-haneef-qureshi/107098968","seolocationalt":"/news/industry/siat-2024-indias-auto-revolution-in-top-gear-with-pli-scheme-triggering-ev-growth-to-global-leadership-says-haneef-qureshi/107098968","seometatitle":false,"seo_meta_description":"Qureshi, addressing a Symposium at the International Automotive Technology (SIAT), projected the next seven years as very important for the Indian automotive industry, especially for electric vehicles. With the PLI scheme at its core, India's automotive revolution is poised for accelerated growth, transforming the nation into a global leader in high technology and sustainable mobility.","canonical_url":false,"url_seo":"/news/industry/siat-2024-indias-auto-revolution-in-top-gear-with-pli-scheme-triggering-ev-growth-to-global-leadership-says-haneef-qureshi/107098968","category_name":"Industry","category_link":"/news/industry","category_name_seo":"industry","updated_at":"2024-01-24 09:03:29","artexpdate":false,"agency_name":"ETAuto","agency_link":"/agency/88675624/ETAuto","read_duration":"3 min","no_index_no_follow":false,"keywords":[{"id":20311401,"name":"Haneef Qureshi on EV growth","type":"General","weightage":100,"keywordseo":"Haneef-Qureshi-on-EV-growth","botkeyword":false,"source":"Orion","link":"/tag/haneef+qureshi+on+ev+growth"},{"id":20311400,"name":"haneef qureshi","type":"General","weightage":20,"keywordseo":"haneef-qureshi","botkeyword":false,"source":"keywords","link":"/tag/haneef+qureshi"},{"id":20228954,"name":"union ministry of heavy industries","type":"General","weightage":20,"keywordseo":"union-ministry-of-heavy-industries","botkeyword":false,"source":"keywords","link":"/tag/union+ministry+of+heavy+industries"},{"id":20311402,"name":"Qureshi on net zero emission","type":"General","weightage":20,"keywordseo":"Qureshi-on-net-zero-emission","botkeyword":false,"source":"Orion","link":"/tag/qureshi+on+net+zero+emission"},{"id":7267069,"name":"FAME Policy","type":"General","weightage":20,"keywordseo":"FAME-Policy","botkeyword":false,"source":"Orion","link":"/tag/fame+policy"},{"id":20311403,"name":"Payment Security Fund","type":"General","weightage":20,"keywordseo":"Payment-Security-Fund","botkeyword":false,"source":"Orion","link":"/tag/payment+security+fund"},{"id":20311404,"name":"National E-Bus Programme","type":"General","weightage":20,"keywordseo":"National-E-Bus-Programme","botkeyword":false,"source":"Orion","link":"/tag/national+e-bus+programme"},{"id":11951886,"name":"ev and future mobility","type":"General","weightage":20,"keywordseo":"ev-and-future-mobility","botkeyword":false,"source":"Orion","link":"/tag/ev+and+future+mobility"}],"read_industry_leader_count":false,"read_industry_leaders":false,"embeds":[{"title":"Qureshi emphasized the need for strengthened testing agencies to accommodate the growing number of models, especially in the electric vehicle (EV) segment projected to grow at an impressive 49% CAGR.","type":"image","caption":"<p>Qureshi emphasized the need for strengthened testing agencies to accommodate the growing number of models, especially in the electric vehicle (EV) segment projected to grow at an impressive 49% CAGR. </p>","elements":[]},{"title":false,"type":"embedgroup","caption":false,"elements":[{"title":"Vietnam EV maker VinFast names founder as CEO, replaces CFO","type":"Article","caption":false,"image":false,"msid":"106608359"},{"title":"Fisker to integrate dealership model with direct sales to boost EV deliveries","type":"Article","caption":false,"image":false,"msid":"106565297"},{"title":"Indonesia's president visits Vietnam's EV maker Vinfast and says conditions ready for a car plant","type":"Article","caption":false,"image":false,"msid":"106829970"},{"title":"Vietnamese EV maker VinFast misses 2023 deliveries goal, but Q4 up","type":"Article","caption":false,"image":false,"msid":"106960468"}]}],"thumb_big":"https://etimg.etb2bimg.com/thumb/msid-107098968,imgsize-38688,width-1200,height=765,overlay-etauto/industry/siat-2024-indias-auto-revolution-in-top-gear-with-pli-scheme-triggering-ev-growth-to-global-leadership-says-haneef-qureshi.jpg","thumb_small":"https://etimg.etb2bimg.com/thumb/img-size-38688/107098968.cms?width=150&height=112","time":"2024-01-24 09:03:27","is_live":false,"prime_id":0,"highlights":[],"highlights_html":"","also_read_available":true,"body":"
Pune: India’s ambitious plans for the automotive sector, and its leap into the future with the Production Linked Incentive (PLI) scheme were highlighted at a Symposium at the International Automotive Technology (SIAT), by Haneef Qureshi, Joint Secretary of the Union Ministry of Heavy Industries.
The Symposium, January 23-25, 2024 in Pune, with the theme ‘Transformations Towards Progressive Mobility’, is a forum and exhibition focusing on automotive technology.
Qureshi emphasized the need for achieving net-zero emissions by 2047 while transforming India into a developed nation by 2027. Qureshi said the automotive industry, which contributes 7% to the national economy, plays a pivotal role in achieving these objectives.
Despite its significant economic impact, Qureshi noted that only 8% of Indian households currently own an automobile, revealing a vast untapped market. He underscored the potential for growth, citing the demographic dividend and the opportunity to bridge the gap with developed countries in automotive density.
He stressed the importance of embracing higher technology to meet consumer demands and outlined advancements in the sector. He commended the advancements showcased at the symposium, including the development of Advanced Driver Assistance Systems (ADAS) and a ground-breaking track-featuring LiDAR-equipped cars.
Qureshi emphasized the need for strengthened testing agencies to accommodate the growing number of models, especially in the electric vehicle (EV) segment projected to grow at an impressive 49% CAGR. He highlighted recent measures, such as a 0% import duty on cars for testing, to encourage foreign OEMs to test their models in India.
The government’s approach is a collaborative effort involving industry, academia, entrepreneurs, and startups, with the government acting as a facilitator. He stressed the dual support required on both the demand and supply sides for the automobile industry.
On the demand side, the government is committed to continuing support through schemes like FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) for electric vehicles. On the supply side, Qureshi provided updates on the PLI scheme, mentioning that three OEMs have already obtained certification, and 23 more applicants are being processed.
The progress made under the PLI scheme for advanced chemistry cells was detailed. With 30 gigawatts already bid out, he underscored the active engagement of three companies in constructing facilities. He assured the audience of the government’s commitment to localization, recognizing the challenges posed by the current dependence on imports for advanced chemistry cells.
“In this transformative phase, we’re witnessing the development of a robust ecosystem for advanced chemistry cells,” Qureshi remarked. He said that the remaining 20 gigawatts of capacity, specifying that ten gigawatts are reserved for grid-scale storage and ten gigawatts for EVs.
A joint fund agreement between India and the United States for procuring electric buses was detailed. The fund, named the Payment Security Fund, aims to ensure timely payments for electric buses over a ten to twelve-year period, part of the National E-Bus Programme targeting 38,000 electric buses by 2027. The target was 50,000 electric buses, out of which 12,000 are already there.
As the government actively encourages the localization of various components, including advanced chemistry cells, Qureshi envisions a self-sustaining ecosystem taking shape in the coming years. “This is not just about meeting our domestic demand but establishing India as a significant player in the global market for advanced chemistry cells,” he said.
With plans for electrification of trucks on the horizon, Qureshi highlighted the transformative phase ahead, projecting the next seven years as revolutionary for the Indian automotive industry, especially in electric vehicles. With the PLI scheme at its core, India’s automotive revolution is poised for accelerated growth, transforming the nation into a global leader in high technology and sustainable mobility.
Read also
Vietnam EV maker VinFast names founder as CEO, replaces CFO
Fisker to integrate dealership model with direct sales to boost EV deliveries
Indonesia's president visits Vietnam's EV maker Vinfast and says conditions ready for a car plant
Vietnamese EV maker VinFast misses 2023 deliveries goal, but Q4 up
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Qureshi, addressing a Symposium at the International Automotive Technology (SIAT), projected the next seven years as very important for the Indian automotive industry, especially for electric vehicles. With the PLI scheme at its core, India’s automotive revolution is poised for accelerated growth, transforming the nation into a global leader in high technology and sustainable mobility.
Qureshi emphasized the need for strengthened testing agencies to accommodate the growing number of models, especially in the electric vehicle (EV) segment projected to grow at an impressive 49% CAGR.
“>
Pune: India’s ambitious plans for the automotive sector, and its leap into the future with the Production Linked Incentive (PLI) scheme were highlighted at a Symposium at the International Automotive Technology (SIAT), by Haneef Qureshi, Joint Secretary of the Union Ministry of Heavy Industries.
The Symposium, January 23-25, 2024 in Pune, with the theme ‘Transformations Towards Progressive Mobility’, is a forum and exhibition focusing on automotive technology.
Qureshi emphasized the need for achieving net-zero emissions by 2047 while transforming India into a developed nation by 2027. Qureshi said the automotive industry, which contributes 7% to the national economy, plays a pivotal role in achieving these objectives.
Despite its significant economic impact, Qureshi noted that only 8% of Indian households currently own an automobile, revealing a vast untapped market. He underscored the potential for growth, citing the demographic dividend and the opportunity to bridge the gap with developed countries in automotive density.
He stressed the importance of embracing higher technology to meet consumer demands and outlined advancements in the sector. He commended the advancements showcased at the symposium, including the development of Advanced Driver Assistance Systems (ADAS) and a ground-breaking track-featuring LiDAR-equipped cars.
Qureshi emphasized the need for strengthened testing agencies to accommodate the growing number of models, especially in the electric vehicle (EV) segment projected to grow at an impressive 49% CAGR. He highlighted recent measures, such as a 0% import duty on cars for testing, to encourage foreign OEMs to test their models in India.
The government’s approach is a collaborative effort involving industry, academia, entrepreneurs, and startups, with the government acting as a facilitator. He stressed the dual support required on both the demand and supply sides for the automobile industry.
On the demand side, the government is committed to continuing support through schemes like FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) for electric vehicles. On the supply side, Qureshi provided updates on the PLI scheme, mentioning that three OEMs have already obtained certification, and 23 more applicants are being processed.
The progress made under the PLI scheme for advanced chemistry cells was detailed. With 30 gigawatts already bid out, he underscored the active engagement of three companies in constructing facilities. He assured the audience of the government’s commitment to localization, recognizing the challenges posed by the current dependence on imports for advanced chemistry cells.
“In this transformative phase, we’re witnessing the development of a robust ecosystem for advanced chemistry cells,” Qureshi remarked. He said that the remaining 20 gigawatts of capacity, specifying that ten gigawatts are reserved for grid-scale storage and ten gigawatts for EVs.
A joint fund agreement between India and the United States for procuring electric buses was detailed. The fund, named the Payment Security Fund, aims to ensure timely payments for electric buses over a ten to twelve-year period, part of the National E-Bus Programme targeting 38,000 electric buses by 2027. The target was 50,000 electric buses, out of which 12,000 are already there.
As the government actively encourages the localization of various components, including advanced chemistry cells, Qureshi envisions a self-sustaining ecosystem taking shape in the coming years. “This is not just about meeting our domestic demand but establishing India as a significant player in the global market for advanced chemistry cells,” he said.
With plans for electrification of trucks on the horizon, Qureshi highlighted the transformative phase ahead, projecting the next seven years as revolutionary for the Indian automotive industry, especially in electric vehicles. With the PLI scheme at its core, India’s automotive revolution is poised for accelerated growth, transforming the nation into a global leader in high technology and sustainable mobility.
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Pune: India’s ambitious plans for the automotive sector, and its leap into the future with the Production Linked Incentive (PLI) scheme were highlighted at a Symposium at the International Automotive Technology (SIAT), by Haneef Qureshi, Joint Secretary of the Union Ministry of Heavy Industries.
The Symposium, January 23-25, 2024 in Pune, with the theme ‘Transformations Towards Progressive Mobility’, is a forum and exhibition focusing on automotive technology.
Qureshi emphasized the need for achieving net-zero emissions by 2047 while transforming India into a developed nation by 2027. Qureshi said the automotive industry, which contributes 7% to the national economy, plays a pivotal role in achieving these objectives.
Despite its significant economic impact, Qureshi noted that only 8% of Indian households currently own an automobile, revealing a vast untapped market. He underscored the potential for growth, citing the demographic dividend and the opportunity to bridge the gap with developed countries in automotive density.
He stressed the importance of embracing higher technology to meet consumer demands and outlined advancements in the sector. He commended the advancements showcased at the symposium, including the development of Advanced Driver Assistance Systems (ADAS) and a ground-breaking track-featuring LiDAR-equipped cars.
Qureshi emphasized the need for strengthened testing agencies to accommodate the growing number of models, especially in the electric vehicle (EV) segment projected to grow at an impressive 49% CAGR. He highlighted recent measures, such as a 0% import duty on cars for testing, to encourage foreign OEMs to test their models in India.
The government’s approach is a collaborative effort involving industry, academia, entrepreneurs, and startups, with the government acting as a facilitator. He stressed the dual support required on both the demand and supply sides for the automobile industry.
On the demand side, the government is committed to continuing support through schemes like FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) for electric vehicles. On the supply side, Qureshi provided updates on the PLI scheme, mentioning that three OEMs have already obtained certification, and 23 more applicants are being processed.
The progress made under the PLI scheme for advanced chemistry cells was detailed. With 30 gigawatts already bid out, he underscored the active engagement of three companies in constructing facilities. He assured the audience of the government’s commitment to localization, recognizing the challenges posed by the current dependence on imports for advanced chemistry cells.
“In this transformative phase, we’re witnessing the development of a robust ecosystem for advanced chemistry cells,” Qureshi remarked. He said that the remaining 20 gigawatts of capacity, specifying that ten gigawatts are reserved for grid-scale storage and ten gigawatts for EVs.
A joint fund agreement between India and the United States for procuring electric buses was detailed. The fund, named the Payment Security Fund, aims to ensure timely payments for electric buses over a ten to twelve-year period, part of the National E-Bus Programme targeting 38,000 electric buses by 2027. The target was 50,000 electric buses, out of which 12,000 are already there.
As the government actively encourages the localization of various components, including advanced chemistry cells, Qureshi envisions a self-sustaining ecosystem taking shape in the coming years. “This is not just about meeting our domestic demand but establishing India as a significant player in the global market for advanced chemistry cells,” he said.
With plans for electrification of trucks on the horizon, Qureshi highlighted the transformative phase ahead, projecting the next seven years as revolutionary for the Indian automotive industry, especially in electric vehicles. With the PLI scheme at its core, India’s automotive revolution is poised for accelerated growth, transforming the nation into a global leader in high technology and sustainable mobility.
Read also
Vietnam EV maker VinFast names founder as CEO, replaces CFO
Fisker to integrate dealership model with direct sales to boost EV deliveries
Indonesia's president visits Vietnam's EV maker Vinfast and says conditions ready for a car plant
Vietnamese EV maker VinFast misses 2023 deliveries goal, but Q4 up
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