Aim for holistic growth
The budget should aim at long-term holistic growth for the auto industry prioritizing job creation, infrastructure development, introduction of latest technologies and increased de-carbonization efforts. With stable policies and a clear roadmap for the sector, an accelerated growth can be achieved transitioning the industry swiftly into the emerging e-mobility era, putting the Indian auto industry on the global map.
A relook into the existing taxation structure with a clear focus on the direct tax changes to boost consumption, export promotion, direct job creation and promotion of digitization is highly desired. Also, continued government spending on infrastructure projects will boost demand for both the passenger and commercial vehicles.”