Auto industry must pursue self-reliance, green growth: PM Modi at Siam

PM Modi asked the automobile industry to align with sustainable mobility and global leadership in green transport, stressing self-reliance across the value chain

Prime Minister Narendra Modi on Thursday urged the automobile industry to work with the government to achieve “true self-reliance”, adding that the sector must align its growth strategies with national goals of sustainable mobility and global leadership in green transportation.

 

In April, China, which processes and exports more than 90 per cent of the world’s rare-earth magnets, sent shockwaves through India’s automobile sector by imposing export restrictions.

 

Rare-earth magnets are essential in electric vehicles’ traction motors. They are also used in many parts of internal-combustion engine cars.

 

In his message to the 65th annual convention of the Society of Indian Automobile Manufacturers (Siam) in New Delhi, Modi said the auto industry had “significantly improved mobility and quality of life” and had been a “torchbearer of the Make in India initiative, boosting global confidence in Indian manufacturing and positioning India as a hub of automotive excellence”.

   

“As we move towards the vision of Viksit Bharat, it is essential for the government and industry to work together to achieve true self-reliance across the entire automobile manufacturing value chain,” the Prime Minister said.

 

He noted that strong policy frameworks and reforms had accelerated India’s journey toward a “future-ready transportation ecosystem,” integrating modern technology with world-class infrastructure to fuel growth.

 

Modi added the sector’s increasing focus on green technology, electric vehicles, and sustainable alternatives was “strengthening India’s clean mobility goals while creating new opportunities in design, production and deployment”.

 

He expressed confidence that Siam’s annual convention would generate fresh ideas and “build new pathways for the nation’s growth”, especially in emerging areas such as energy storage and scaling up sustainable mobility solutions.