Published on 19/05/2017 10:32:03 AM | Source: IANS

Auto sector likely to contribute 12% to GDP over next decade: Anant Geete

Posted in Stock Market | #Auto Sector #GDP #Government #Anant Geete

The central government on Thursday said the Indian automobile sector is likely to contribute 12 per cent to the country's GDP (gross domestic product) over the next decade.

This was stated by Union Heavy Industries and Public Enterprises Minister Anant G. Geete, who inaugurated the test track facility develop by global automotive research centre (GARC) at Oragadam, Chennai. 

According to Ministry of Heavy Industries and Public Enterprises, at present, the Indian auto industry is contributing 7.1 percent (approximately) to the country's total GDP. 

GARC, Chennai, is a body working under the NATRiP (National Automotive Testing and R&D Infra Project).