Lauding the automotive industry in the country for its "success beyond expectations", Prime Minister Manmohan Singh on Saturday said the UPA Government would take necessary steps to realise the goal of making India — a global workshop.
All firms — Indian and foreign — are contributing to making India an automotive and industrial powerhouse, he said, laying the foundation stone for the Rs 470 crore Global Automotive Research Centre here, about 70 kms from Chennai.
"They have the potential to generate millions of jobs, which our youth need. The UPA Government will do whatever is necessary to realise this goal of making India the workshop of the world," he said.
The Prime Minister said that by demonstrating its flexibility in responding to customers' needs, ability to meet the challenge of competition, drive to meet global standards and ambition to be second to none, the automotive industry had succeeded beyond expectations.
"The success of Indian automobile and auto components industry is a proud symbol of the success of Indian enterprise in this new era. Grand India has begun to make its mark on the world stage," he said.
The industry has done so with virtually no state subsidy or support and based on a transparent system of taxation, pricing and technology development.
It had done so on the basis of domestic talent in design, marketing and brand building, he said.
"The automotive sector is a sunrise sector in our economy. It has grown impressively to carve out a seven per cent share in the global market. Our vehicle and components are being accepted in European and American markets and by major firms like the BMW and Daimler Chrysler."
Success of Indian enterprise have also encouraged foreign companies to set up base in India, he said thanking the Korean, Japanese, European and US auto firms for investing in the country.