India to Become a Global Power in Electric Vehicles, Says Piyush Goyal

Union Commerce Minister Piyush Goyal expressed confidence that India will emerge as a global power in the electric vehicle (EV) sector with the introduction of the newly unveiled policy. The policy aims to attract leading EV makers to set up a base in India by offering duty concessions for those investing a minimum of USD 500 million.

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Inviting Global Companies to Invest in India's EV Ecosystem

Goyal invited companies from across the world to come to India and contribute to the expansion of EV production. He emphasized the potential for creating an ecosystem that encompasses various aspects such as parts, design, and auto components, which can generate employment opportunities for lakhs of Indians.

Benefits for Indian Consumers and the Economy

The minister highlighted the benefits of the EV policy for Indian consumers, who will gain access to high-quality vehicles at affordable prices. Additionally, the policy is expected to reduce forex outflows due to decreased imports, leading to advantages such as lower inflation and softer interest rates.

Government e-Marketplace GeM Portal Sees Doubled Procurement

Goyal announced that the overall procurement through the government e-marketplace (GeM) portal will double to Rs 4 lakh crore in the financial year 2023-24. This represents a significant increase from the current level of Rs 3.82 lakh crore. The minister cited independent studies indicating that over 12 percent of public funds have been saved through this initiative.

Addressing Salary Arrears of NTC Workers

Earlier in the day, Goyal attended an event where National Textile Corporation (NTC) workers received salary arrears up to December 2021. He attributed the difficulties faced by the workers in getting their salaries to the poor financial health of the corporation and the impact of the COVID-19 pandemic. Goyal assured that dues for another eight months will be paid within the next 30-40 days, with the aim of clearing all arrears.

Collaboration with ISRO for Time Synchronization and Strategic Applications

The minister launched a service in collaboration between the Ministry of Consumer Affairs and the Indian Space Research Organisation (ISRO). This service will enable all mobile service providers to synchronize with Indian Standard Time (IST) and support the synchronization of real-time applications in strategic sectors for national security.

Inauguration of Video Conferencing Facilities

Goyal also inaugurated Video Conferencing facilities installed in State Consumer Commission offices in Chandigarh, Punjab, Haryana, Maharashtra, and Delhi. These facilities will enhance communication and accessibility for consumer-related matters.

The Indian government's focus on promoting the EV sector, attracting global investments, and improving public procurement through the GeM portal demonstrates its commitment to economic growth and the well-being of its citizens. The initiatives announced by Union Commerce Minister Piyush Goyal are expected to have a positive impact on various industries, create employment opportunities, and benefit consumers.