“South Asian Region should look at generating own fuel via natural resources”
The South Asian region (including Sri Lanka) should look at minimizing the dependency of alternative fuel imports and look at generating own fuel via natural resources said Indian Minister for Road Transport & Highways, Nitin Jairam Gadkari, inaugurating the 12th edition of the CII EXCON, South Asia’s’ largest Construction Equipment Trade Fair at the Bangalore International Exhibition Centre, Bengaluru.
He said that generating fuels from green energy that includes solar electric, hydrogen are the best options for this.The Minister said that today the Indian automobile industry too has taken a lead towards this by designing vehicles powered by alternative energy sources. “The government is happy that the automobile makers in India are adopting this.”
He also discloses that due to high manufacturing capacity India has become the third largest automobile market in the world only second to China and USA. The main reason for this is that the government has allowed foreign automobile manufacturers to join with Indian companies to manufacture vehicles in India export and also supply to the huge domestic market.
He also said that today India has also become the number three in the construction equipment manufacturing sector. The Construction Equipment Industry is positioning itself for remarkable growth, targeting over 15% year-on-year increase in the next five years.
These global manufacturers in both these segments have also found out that their cost of production in India is very much less than Japan, China and the USA. The 5-day exhibition will conclude on Friday attracting over 80,000 business visitors from all over the world. As a special initiative this year, CII will launch the “Women Building India” – Equal Opportunity Awards. The award aims to recognize companies from the infrastructure sector who have taken proactive steps to enable women to participate in the workforce. (SS)
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