Tough ride ahead for new scrappage policy
Component makers to face a bumpy ride as price-sensitive market acts as deterrent.
Component makers to face a bumpy ride as price-sensitive market acts as deterrent.
The auto sector is jubilant over the government's new scrappage policy, which was announced by Nirmala Sitharaman during the presentation of the Budget. Some, however, say more work needs to be done.
No revival in sight; barring three-wheelers, all the other segments showed de-growth.
The industry, which contributes 7% to the GDP, has seen falling sales for more than a year.
Vinod Aggarwal, MD and CEO, Volvo Eicher Commercial Vehicles, speaks about its BS VI readiness, the tech advances in the commercial vehicle segment, and the slowdown crippling the auto industry.
Nitin Gadkari stressed the need for manufacturing locally and converting the country’s research and knowledge potential into wealth.