new delhi auto industry players on wednesday welcomed prime minister narendra modis assurance that conventional engine vehicles and electric vehicles evs can coexist in india saying it would encourage investment and job creation in futuresociety of indian automobile manufacturers president rajan wadhera said the assurance is completely inline with siams recommendations that all relevant technologies should coexist in indias journey towards sustainable mobilityhe also called for a longterm roadmap for all futuristic technologies which instils confidence to the industry to get goingexpressing similar views tvs motor company chairman venu srinivasan said the recent clarification by the prime minister that ice and electric vehicles will both be encouraged and grow is a strong step to encourage investment and employment in the automotive sector in indiathis will provide reassurance to millions of people across the supply chain ranging from component manufacturers to original equipment manufacturers oems dealers mechanics and associated people across the country he addedsrinivasan further said a technology agnostic approach that encourages all options is very important for a developing country like india which is dependent on fossilbased sources for much of its poweralso with some of the other measures announced towards increasing liquidity this clarification will provide the stability to ensure india continues to remain one of the leading investment destinations in the world he saidtoyota kirloskar motor joint managing director n raja said the pms statement has given a lot more confidence and clarity and will help the auto industry in efforts to come out of the ongoing sales slumpnow with this clarity people who were thinking of delaying purchases what we called as fence sitters can come forward it will help in improving the market he saidin an interview with a business daily modi had asserted that india has a large enough market and big enough policy space to ensure growth of both internal combustion engine vehicles and evs and there was no need to speculate about the growth of either of the twothe auto industry has been opposing proposal by niti aayog to push for full conversion to evs for ice threewheelers by 2023 and twowheelers of 150cc and below by 2025 saying a transition was completely uncalled for and could jeopardise the industry