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India To Become Number 1 Automotive Market In The World In Next 5 Years Says Nitin Gadkari At HPCL Presents Times Drive Auto Summit & Awards 2025
At the HPCL Times Drive Auto Summit & Awards 2025, Nitin Gadkari, Minister of Road Transport and Highways of India, stated that India recently became the world's third-largest automotive market. He predicted that India will become the largest market in the next 5 years, driven by alternative fuels and biofuels. Gadkari has consistently advocated for alternative fuels and highlighted the decreasing cost of Lithium-ion batteries, predicting price parity between electric and petrol/diesel cars within 5-6 months.
Times Drive Desk
Updated Mar 26, 2025, 02:15 PM IST
India To Become Number 1 Automotive Market In The World In Next 5 Years Says Nitin Gadkari At Times Drive Auto Summit & Awards 2025
Chief Guest, Nitin Gadkari, Minister of Road Transport and Highways of India (MoRTH) at HPCL Times Drive Auto Summit & Awards 2025 addressed the gathering stating India has become the number three automotive market in the world a few months ago, taking over the third spot from Japan. The number one spot in the list is currently occupied by the USA and the second spot is occupied by China.
At the event the minister who is well known to speak his heart out and also has a pretty good track record of achieving impossible feats in the field of mobility and road infrastructure has said that, “driven by alternate fuels and biofuels, in the next 5 years India will become the number one automotive market in the world”.
Gadkari has always been a strong advocate of alternative fuels and this isn’t the first time that he upheld the use of biofuels and alternative fuels to lead the future of mobility in India. Over the years he has played a pivotal role in the adoption of ethanol blended fuel, first E10 the E20. He also has an ambitious plan of transitioning to E100; aka 100 percent ethanol for mobility.
Apart from upholding biofuel and alternate fuels, at the event Gadkari also highlighted that cost of Lithium ion has come down considerably from $150 to $100 per kWh and within five to six months prices of electric cars will come at par with petrol and diesel cars in the country. At the event he also touched upon topics like electric cars, electric vehicle charging infrastructure and India’s export potential under the ‘Make in India’ initiative.
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