Nitin Gadkari assures auto industry on scrappage policy, says will be approved soon

Road Transport and Highways Minister Nitin Gadkari met auto industry execs on November 2 and discussed the overall outlook of the sector. Industry body SIAM ( Society of Indian Automobile Manufacturers ) led by its President Kenichi Ayukawa presented a whole lot of issues affecting the sector.

The Minister and the industry discussed the impact of Covid 19 on the sector and green shoots that are visible as far as sales in the month of October are concerned, said sources. 

Notably, it was pointed out that the industry asked for faster approvals and implementation of the scrappage policy. Industry also asked for incentives under the Scrappage policy and the Minister assured the industry that the policy will be approved soon. 

Discussions on GST rates for the sector were also discussed but no conclusive decision was taken on that. Gadkari urged the industry to work on alternate fuel and flex fuel technology and also spoke about reducing oil imports. Gadkari also asked the industry to work on Aatmanirbhar Bharat and reduce imports. Sources also pointed out that Industry sought deferment of some emission and safety norms that the government plans to get in near future and the minister heard the request by the industry.

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Gadkari, who also holds the MSME portfolio has stressed on the fact that the auto components sector should improve production, technology and quality and take advantage of India's cost-competitive labour to be a force.