Mr. Diego Graffi- MD & CEO Piaggio Vehicles Pvt. Ltd :
“The Automobile industry needs support from the Government in this year’s union budget as the auto sector is facing one of its most challenging periods in the last few years. Auto sales are at an 18 year low and slowdown in the automobile industry is affecting the overall GDP growth story as it contributes over 7% in the total GDP. We expect that this union budget should provide much needed relief to the sector with initiatives & policy interventions which can revive the sector.
I feel GST on automobiles should be reduced from 28% to more rational level of 18% as this will absorb some of the cost impact of the future introduction of BS VI at and this will add to affordability for the customer & be an impetus to growth.
A comprehensive policy on the scrapping of old vehicles will not only benefit emission aspects but will in addition help the auto sector & consumers with new technology vehicles. As far as electric vehicles are concerned we are looking forward to comprehensive policy on the phased introduction of EVs in India.
Auto industry in general has been a great source of opportunities for investments and direct and indirect employment and currently this industry needs the appropriate support of the government to ensure it comes back to the growth trajectory & continues its contribution to the GDP & the India growth story. I feel government recognizes the potential of the auto industry and it will put its best foot forward.”
Do let me know in case you are working on any pre budget stories and if you could use the above given quote in it. Also let me know if you need any additional information.
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