Question
Download Solution PDFIn April 2025, NITI Aayog released a report titled "Automotive Industry – Powering India's Participation in Global Value Chains". What is the primary objective of this report?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is To propose strategies for enhancing India's role in global automotive value chains.
Key Points
- The report by NITI Aayog aims to outline strategic measures for enhancing India's participation in global automotive value chains.
- It focuses on aligning India's automotive industry policies with global standards to boost competitiveness and innovation.
- Key areas addressed include technology adoption, skill development, and fostering collaboration between stakeholders.
- The report emphasizes strengthening exports, improving supply chain efficiency, and leveraging India's manufacturing capacity.
- Promoting sustainable practices and integrating advanced technologies like electric vehicles (EVs) and autonomous systems are highlighted as vital strategies.
Additional Information
- Global Value Chains (GVCs):
- GVCs refer to the international division of production, where different stages of the manufacturing process are carried out in various countries.
- Participation in GVCs helps nations integrate into the global economy and enhance their trade competitiveness.
- India's Automotive Industry:
- India is the world's fourth-largest automotive market and a major exporter of vehicles and auto components.
- The industry contributes significantly to India's GDP and provides employment to millions of workers.
- Electric Vehicles (EVs) and Sustainability:
- EVs are a critical focus area in India's automotive strategy to reduce dependence on fossil fuels and promote sustainability.
- India aims to achieve 30% EV penetration by 2030 under its National Electric Mobility Mission Plan (NEMMP).
- Skill Development in the Automotive Sector:
- Upskilling and reskilling workers are essential to adapt to technological changes in the automotive industry.
- Initiatives like the Automotive Skills Development Council (ASDC) work towards training the workforce for emerging technologies.
Last updated on Jul 17, 2025
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