India must build its own EV ecosystem before other countries catch up, says Piyush Goyal at Bharat Mobility Global Expo 2025

Speaking at the Bharat Mobility Global Expo 2025, Goyal said the participants from the auto component sector to build indigenous equipment and remove dependence on non-transparent, non-market economies of foreign countries.

Noting that the auto component sector is the heart of the Indian auto industry, the Minister stated that while negotiating Free Trade Agreement (FTAs) the sector that stands out is the auto component industry.

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Goyal also complimented the industry for exporting more than the imports, and turning into a net surplus industry in terms of exports.

He also highlighted that FTAs being negotiated will open doors to many markets for the auto and auto component industry.

The Minister further noted that the next 10 years of the auto industry will define the future and the roadmap for Viksit Bharat 2047.

"100 billion USD of export in the next decade will make India Atmanirbhar," he added.

He emphasised that Indian component manufacturers offer cost-competitiveness and high-quality precision engineering.

"Innovation and technology are skills required to grow constantly in this sector," he added.

He further remarked that with the Government acting as a facilitator in public-private partnerships (PPPs) along with expo like Bharat Mobility 2025 will spur the mobility sector.