According to the Union Minister for Heavy Industries and Public Sector Enterprises, the aim will be to have a growth-oriented, industry and consumer friendly policy for the sector.
Geete was speaking at the inauguration of the 14th edition of the Auto Expo.
He assured the industry that the central government will hold consultations with it before framing the new policy.
On the need to move towards lower vehicular emissions and gradually to electro-mobility, the minister said that the government will extend its full support for this transition.
"The need of the hour is to move towards alternative and cleaner fuel options in the near future because of the global concern of pollution," Geete said.
"However, the government will extend its full support to the industry to make this transition in a phased manner without dampening the hopes and resilience in any way."
The "Auto Expo - The Motor Show" 2018 will open for the public from Friday.
February 7 and 8 were reserved for the media and exhibitors.
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