India News | Govt Taking Proactive Measures to Curtail Greenhouse Gas Emissions: Union Minister Mahendra Nath Pandey

New Delhi [India], September 13 (ANI): The Indian Government is taking proactive measures to curtail greenhouse gas emissions and encourage next-generation vehicles and technologies that can minimize carbon footprints, said Union Minister of Heavy Industries Mahendra Nath Pandey while addressing the 63rd Annual Session of Automotive Component Manufacturers Association (ACMA).

Pandey said that the PLI Scheme for the Automobile and Auto Component Industry in India has achieved remarkable success, attracting a proposed investment of Rs 74,850 crores, surpassing the initial target estimate of Rs 42,500 crores over a five-year period. The government has decided to extend the scheme's duration until 2024, adding an extra year to its timeline.

Also Read | Rajasthan High Court Bans Appointment of 50,000 Mahatma Gandhi Seva Preraks, Issues Notice to State Government.

Talking to ANI, Sanjay Kapoor, president of ACMA said that the Indian auto component industry stands on the brink of incredible expansion. In FY 2023, we've accomplished an outstanding 33 per cent annual growth, reaching an impressive turnover of USD 70 billion. This milestone underscores the unwavering resilience and fortitude of our sector in confronting challenges.

Karn Nagpal, Director, President Rosmerta Technologies said that the economy is growing much higher than compared to other economies around the world. “We can see how vibrant is our economy and the automotive ecosystem, which has actually given us the opportunity to open new businesses or attempt new businesses year after year,” the director said.

Also Read | Suicide on Facebook Live: Threatened With Rape Charge, Extortion by Girlfriend, Nagpur Man Dies by Suicide After Posting Video on FB.

Nagpal said that last year, we got into two new businesses, vehicle care and RTO services, in both the b2b as well as the direct-to-customer segment. Here we help. We have our mobile app on MyRaasta for customers.

These are just two new businesses for example that we started, which has led to almost a 15 per cent growth in the employee strength of our group. Almost 600 plus people have joined our company in just a year. The economy as well as the auto automotive industry in our country is bound to grow by leaps and bounds in the coming years. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)