Automotive plan targets $145 bn by 2016

The automotive mission plan was launched on Monday envisaging a substantive increase in turnover and investment.

"In cooperation with the industry the AMP has been finalised as a document to be followed by the government and the industry to make India a global player," Minister of Heavy Industries and Public Enterprises Santosh Mohan Dev told reporters in New Delhi.

As per the mission plan, he said the turnover of the automobile industry in the country will increase to $145 billion by 2016 from the current $35 billion, accounting for 10 per cent of our GDP.

"This should require investment of around $40 billion which the industry would like to ensure," Dev said, adding that by 2016 the industry should provide employment to about 25 million people.

The AMP was launched by the Prime Minister Manmohan Singh at his residence.