Auto industry welcomes BJP's second term in power.
The world's largest democratic exercise and one of the longest-running election has finally reached its destination. India, which saw its general assembly elections take place over seven phases from April 11, has come to its logical conclusion with over 90 crore eligible voters and seeing a 67.11 percent voter turnout. With today's results, it is evident that the majority of the country has elected the government for the next five years and, going by the trend, prime minister Narendra Modi is expected to take his second term in office.
While, the final results are yet to be out, a few voices from India Auto Inc have already expressed their views and expectations from the next government.
Commenting on the election results, Baba Kalyani, Chairman and MD, Bharat Forge said: “I congratulate prime minister Narendra Modi for a historic win and a strong mandate! People have reposed faith in his visionary leadership and have voted wisely for a stable government. The win is also a testament to his government’s continued efforts to drive inclusive growth and development - Sabka Saath, Sabka Vikas! Wishing him all the success in his second stint, on behalf of Bharat Forge, I reinstate our commitment to strengthen national manufacturing capabilities and collectively work with the government to realise a new India!."
Anand Mahindra, Chairman, Mahindra Group tweeted:
Size of the country (Land mass+population) X Size of the Economy X Size of the election mandate = Leader’s Power Quotient. By the measure of this crude formula, @narendramodi is about to become the most powerful, democratically elected leader in the world today...— anand mahindra (@anandmahindra) May 23, 2019
Vikram Kirloskar, Vice-Chairman, Toyota Kirloskar Motor and President, Confederation of Indian Industry (CII), tweeted
Congratulations, @narendramodi on your well deserved victory. It is a reflection of your strong leadership and thrust on development. Looking forward to Modi 2.0.— Vikram Kirloskar (@vikramkirloskar) May 24, 2019
Rajan Wadhera, President, SIAM said, “I congratulate Prime Minister Shri Narendra Modi for the thumping victory in the elections. With the new government in place, I am hopeful that India will soon be on the path of economic growth, leading to revival of the demand cycle for all consumer goods including automobiles. I am hopeful that the government accords priority industry status to the auto Industry and the industry looks forward to working closely with the government towards driving competitiveness and growth of the Indian auto industry.”
Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles (SMEV), said: “We congratulate BJP for winning the mandate in the general election 2019. In the last five years, the government led by Narendra Modi has initiated many programs in order to fight the menace of air pollution. We hope that the government would undertake and resolve several long-awaited issues that are required to give impetus to India's dream of clean mobility by 2030. We are confident that the government will continue to work relentlessly for the welfare of the citizens and take India to new heights.”
Vishnu Mathur, Director General, SIAM, added “As of now, the industry is going through a difficult period with a slowdown in demand across all segments. We hope that initiatives by the new government will help revive the demand. Also, the industry looks forward to working with all concerned ministries for a smooth transition to BS VI.”
Dr Keshab Panda, CEO and managing director, L&T Technology Services said: “This election is a victory for Indian democracy and the people’s mandate. A stable and clear majority is always beneficial to business and international trade and commerce. As India builds up on its global position of being a leader in new-age innovations, it is the right time to leverage the country’s unique capabilities to serve as a best-in-class ER&D services destination. In the transportation space, there are a lot of opportunities pertaining to electric cars, basic level autonomy and smart infrastructure. We foresee technology companies coming out with digital engineering solutions catering to all of these in the coming years.”
Ayush Lohia ,CEO, Lohia Auto Industries, said: "The thumping victory of the government has got reiterated once again by the Indian people’s mandate.With the new government set to take charge soon, the e-vehicle sector will be hoping for quick intervention to boost its sagging fortunes"
Rajeev Kapur, MD, Steelbird Helmets and president, Two Wheeler Helmet Manufacturers Association, believes a stable government at the centre will further boost the growth in the automotive industry. "We hope that the new government demonstrates concrete action to push investments, increase growth and generate employment. Furthermore, we are expecting the upcoming government will make the GST nil on the helmets and even the input credit should be granted to the helmet manufacturers, leading to low cost of ISI mark helmets for the consumers and millions of lives can be saved."
Ayyushman Mehta, Managing Director, Sandhar Amkin Industries, said, "We are optimistic that the focus on road safety by the government in the previous term will continue to be a priority in the second term as well. This will give the necessary revival to the auto industry and helmet segment in the specific."
Udit Sheth, vice-chairman, Setco Automotive said: “We congratulate the government for winning the second term. With a stable government we expect a speedy implementation of infrastructure projects, smooth transition to BS VI along with stringent norms to scrap old polluting vehicles. Additionally, we expect more boost for agriculture sector and creating a better ease of doing business environment to enhance further goods movement in India.”
KNM Rao, co-founder and CEO, Quick Ride, said: “Quick Ride extends its hearty congratulations to the new government. We are positive that the government will continue executing its progressive policies and programs. Traffic is one such issue that certainly requires full attention from the government. Quick Ride is doing its part in decongesting the roads but we need support from the government. We expect the new government to look at carpooling as a service rather than leverage. For which proper definition of carpooling in the Motor Vehicle Act, 1988 is required."
"Players like us have witnessed tremendous growth in the last few years. We expect this to accelerate with additional support from the government. The centre can encourage state governments to formulate new policies and programs that will encourage the citizens to carpool. We expect the government to make carpooling a medium for last mile connectivity from different public transport mediums like metro stations, bus stands, etc. While futuristic mobility solutions for urban India are in the works, optimisation of the current mode of transport via ride sharing is a small step towards the bigger dream of a green planet.”
Juergen Hase, CEO, Unlimit, said: “The Indian start-up sector have already been ignited in the past five years with favourable policies around taxation, investments, ease of doing business, incubation, foreign capital, cross border, startup lobby groups, industry associations. The foundation of the of the ecosystem is already in place with India being the third largest hub for start-ups globally. Active government involvement is the need of the hour to resolve challenges such as unemployment, and funding for the growth of the industry and the economy at large. For start-ups to flourish, it is imperative to create an environment that is conducive to physical, offline small businesses and hardware product firms operating locally. The new government should continue with initiatives such as Make in India and Digital India to aid the growth of the start-up industry and also work towards a digital economy by installing proportionate methods to tackle policy challenges”.
Image courtesy: Narendra Modi page/Facebook
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