NEW DELHI: Union Transport Minister, Nitin Gadkari, said that India aims to double its automobile industry by end of 2024 making it a Rs.15 lakh crore industry. He said that next year his ministry will implement projects worth Rs.5 lakh crores. Out of this Rs.2 lakh crores will be invested by the government and the rest will be raised through stock market.

Currently, the automobile industry is Rs.7.5 lakh crores. The aim is to raise it to Rs.15 lakh crores by end of 2024. India will be the biggest vehicle manufacturer in the world and create huge jobs in the sector.

Gadkari spelled out his plans at a virtual session conducted by Merchants Chamber of Commerce and Industry.

He added that by 2030 the majority of the vehicles in India will run on alternate fuels.