In quest for greener vehicles don't scare away the existing auto investors

Of late, government policies for the automobile sector have been in the news more for dissuading existing players than encouraging them to invest more

The automobile sector has been one of the few success stories in Indian manufacturing. According to the Ministry of Heavy Industries, India is now the largest manufacturer of two- and three-wheelers, and the fourth-largest maker of passenger cars in the world. In 2018-19, the auto industry constituted 7.1 per cent of the country’s gross domestic product (GDP), 27 per cent of India’s industrial GDP, and 49 per cent of its manufacturing GDP, and provided jobs to 37 million people, directly and indirectly.

It will also undergo a dramatic structural change because of technological shifts taking place. Over the next decade