Gadkari said metal recycling will reduce the cost of vehicle parts by 30 percent.

Union Highways and Road Transport Minister Nitin Gadkari said on Friday that increased reuse of metals can reduce the cost of vehicle components by 30 percent. This will strengthen the export possibilities of the automotive industry. Addressing an international conference on metal recycling here via video conference, Gadkari said the government has set a target of doubling the size of the auto industry to Rs 15 lakh crore and creating five crore new jobs.

However, it did not specify the time frame to achieve this goal. India will become the third largest vehicle market in the world by 2022, leaving Japan behind. Gadkari said that the country is currently facing a shortage of copper, aluminum and steel, but this problem can be overcome by recycling metals in collaboration with foreign companies. “We need to encourage metal recycling to reduce the cost of finished vehicle products. If this happens, we will be able to export more.

This is the reason why the government is pushing the policy of turning old vehicles into scrap metal. Vehicle equipment cost can be saved up to 30 percent due to high scrap. He invited vehicle manufacturers to set up large scrap plants at the proposed dry ports of Wardha, Sangli and Kolhapur in Maharashtra, saying they would also get lots of concessions there. Gadkari said the government would do everything possible to encourage more scrap imports. Along with this, he said that in the next financial year, around nine lakh old government vehicles will be turned into scrap metal.

Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.