Speaking at All India Management Association's 49th National Management Convention, Union Road Transport and Highways Minister Nitin Gadkari said that he wants to turn India's auto space, which is presently pegged at Rs 7.5 lakh crore, into a Rs 15 lakh crore industry.
He also added that the industry's growth is so fast that automobiles' strength may be equal to India's population in five years.
He further revealed his plans to launch Toyota vehicles with flex engines that entirely run on ethanol. He further talked about his dream to take the ethanol economy to Rs 2 lakh crore.
Gadkari further asked for cooperation from all stakeholders on the issue of road safety and asked for the education of people through campaigns and celebrities.
The union minister also expressed his shock about the death of the former chairman of the Tata Group - Cyrus Mistry and assured about his efforts on road safety.
Calling for further reducing logistics costs, he said that logistics cost in India is 14-16 percent compared to its neighbour China which has logistics costs of 8-9 percent. India should target 10 percent as it will help exports, Gadkari added.
The road transport ministry is meanwhile looking at 27 green express highways that will reduce time along with emissions. He called LNG a "futuristic fuel" that cost 60 percent lower than diesel.
