The government is giving final touches to its ambitious automobile scrappage policy and the scheme could be cleared in less than a month, said Union minister Nitin Gadkari on Saturday. The policy is expected to encourage car buyers to go in for new purchases which will be backed up by government incentives for letting their old vehicles scrapped. The Centre expects the move will bolster the growth of India’s auto industry.
It is considered to be the most vital element of any further package to the sector, said the minister at a virtual meeting with members of the Automotive Component Manufacturers Association of India. Gadkari said the government is now of the mindset to increase the country's exports and limit imports by imposing a duty, as he urged the auto component sector to increase exports and strive for quality manufacturing. On the infra push, he said that Centre will build 22 'Green Expressways’ and work on some has already started. He also called upon the industry to set up clusters for factories close to these expressways.
