Automobile manufacturers welcomed Prime Minister Narendra Modi's recent assurance that both the internal combustion engine (ICE) and electric vehicle technologies can co-exist. The government has been emphasising on electric mobility and other greener mobility solutions in recent years. The Prime Minister said in an interview that the country has a large enough market and big enough policy space to ensure the growth of ICE-based automobiles as well as EVs.
Commenting on the PM's assurance, Rajan Wadhera, President, SIAM (Society of Indian Automobile Manufacturers), said: "It is indeed a very welcome statement and is completely in-line with SIAM's recommendations that all relevant technologies should co-exist in our journey towards sustainable mobility. Hence it would call for a long-term road-map for all futuristic vehicle technologies, which instils confidence to the industry to get going."
Meanwhile, Chairman of TVS Motor Company, Venu Srinivasan, said" "Modi's clarification is a step to encourage investment and employment in the automotive sector. It will also help Indian companies to be globally competitive. This approach will give further fillip to the Prime Minister's vision of Make in India programme."
Besides, with some other measures announced towards increasing liquidity, the clarification will provide stability to ensure India continues to remain one of the leading investment destinations in the world.