Union Road Transport and Highways Minister Nitin Gadkari on Monday highlighted the economic benefits of ethanol production, stating that farmers have earned an additional ₹45,000 crore by producing ethanol from corn.
Speaking at the 20th FICCI Higher Education Summit 2025, Gadkari also projected that the prices of electric vehicles (EVs) in India will reach parity with petrol-powered vehicles within the next four to six months.
"Within the next 4-6 months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles," he said.
The minister emphasised the importance of reducing India’s reliance on fossil fuels, noting that ₹22 lakh crore is spent annually on fuel imports, which he described as both an economic burden and an environmental hazard.
Looking ahead, Gadkari plans for the Indian automobile industry and said, "Within five years, our target is to make India's automobile industry the number 1 in the world."
He added, "When I took charge as transport minister, the size of the Indian automobile industry was ₹14 lakh crore. The size of the Indian automobile industry now is ₹22 lakh crore."
For context, the current size of the US automobile industry is ₹78 lakh crore, followed by China at ₹47 lakh crore, and India at ₹22 lakh crore.
