Auto sector welcomes PM Modi's assurance on internal combustion engine cars

India's automobile industry is facing one of the most prolonged slowdowns in two decades. Sales have been in a slow lane for a year

The assurance by Prime Minister Narendra Modi that internal combustion engine (ICE)-powered vehicles will stay, as India’s market is big enough to accommodate both these and cleaner technologies like  electric vehicles (EVs), is big relief for automobile makers. 

The assurance was given in a recent interview to The Economic Times. 

In separate statements, top officials from various companies said the clarification puts to rest the speculation regarding the fate of ICE. This would help companies take a more informed decision regarding future investment and to secure jobs.