Policy on Electric Vehicles in the pipeline: PM Modi

New Delhi : Calling mobility a "key driver" of the economy, Prime Minister Narendra Modi on Friday announced that his government will soon issue a policy on electric vehicles and those based on alternative fuels.

Addressing the first edition of 'MOVE: Global Mobility Summit' here, the Prime Minister said, "We will soon put in place a stable policy on electric vehicles and other alternative vehicles. We will do whatever it takes because it is our commitment to heritage and our future generations. India has inherent strength and comparative advantage. 

We have fewer vehicles per capita than other economies. We do not carry the legacy of other economies which were built on private car ownership."

Calling upon the young entrepreneurs for strides, the Prime Minister said, "Mobility is a key driver of the economy. Better mobility reduces the burden of travel and transportation and can boost economic growth. It is already a major employer and can create the next generation of jobs."

"Indeed, India is on the MOVE. Our economy is on the MOVE. We are the world's fastest-growing major economy. Our cities and towns are on the MOVE. We are building 100 smart cities. Our infrastructure is on the MOVE. We are speedily building roads, airports, rail lines and ports," he added.

Praising the Goods and Services Tax (GST) implemented in the country last year, Prime Minister Modi said, "Our goods are on the MOVE. GST has helped us rationalise supply chains and warehouse networks. Our reforms are on the MOVE. We have made India an easier place to do business. Our lives are on the MOVE. Families are getting homes, toilets, LPG cylinders, bank accounts, and loans."

Prime Minister Modi also shared his vision for the future of mobility in India, based on seven Cs: Common, Connected, Convenient, Congestion-free, Charged, Clean, Cutting-edge.

The Global Mobility Summit is the first of its kind, with over 2, 200 participants expected from across the world including leaders from the government, industry, research organisations, academia, think tanks and civil society.

Components of the summit include the core conclave, digital exhibition, mobility week with featured events and a variety of stakeholder consultations.