'Need for long-term outlook, continuation of stable policies': Santosh Iyer

The managing director and CEO of Mercedes-Benz India expects the upcoming Budget 2023-24 to be forward-looking and to act as a catalyst.

Autocar Professional BureauBy Autocar Professional Bureau calendar 28 Jan 2023 Views icon5395 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
'Need for long-term outlook, continuation of stable policies': Santosh Iyer

Country's No. 1 luxury carmaker - Mercedes-Benz India - which registered its best-ever year in India in 2022 by selling 15,822 units (+41%), is keeping a close watch on the Budget 2023-24 that is set to be revealed on February 1. The company is hopeful that the upcoming Budget will roll out policies that give an impetus to electrification whilst being future-oriented and stable in the long run. 

According to Santosh Iyer, managing director and CEO, Mercedes-Benz India, “We are optimistic about the upcoming Union budget and expect it to be progressive and forward-looking, acting as a catalyst for India’s long-term growth trajectory. We hope for continued capital outlay for development of roadways and infrastructure, with a timely implementation of the ongoing projects." 

"In recent years, we have witnessed the direct impact of better roadways and inter-state connectivity in propelling demand for automobiles, and boosting the industry and economy. We welcome the policymakers’ continued strategic focus on electrification and request for a long-term outlook and continuation of these stable policies, encouraging e-mobility adoption in India. 

"The current tax incentives and other benefits should continue for a period of 8-10 years in order to boost growth in the EV segment, advancing the inflection point for EVs and making the auto industry gain the critical mass for these vehicles. Incentivizing the creation of charging infrastructure will play an important role in expediting EV adoption in the country and boosting customer confidence. 

"Finally, we wish for reconsideration of the current import duties for EV’s to boost their demand, resulting in a faster acceleration for achieving the Government’s vision of a sustainable green mobility ecosystem in the country,” Iyer said.

RELATED ARTICLES
Ashok Leyland Secures 200-Truck Order from Instant Transport Solution

auther Shruti Shiraguppi calendar27 Jun 2025

Commercial vehicle manufacturer delivers first batch of 100 trucks to express logistics company.

Xiaomi Enters Electric SUV Market with YU7 Launch

auther Sarthak Mahajan calendar26 Jun 2025

Chinese tech giant enters competitive electric SUV market with three-variant lineup featuring 835km range, advanced driv...

Skoda and Volkswagen Expected to Introduce Hybrid Models in India by 2028

auther Ketan Thakkar calendar26 Jun 2025

Future hybrid cars from Skoda and Volkswagen are expected in the midsize SUV and sedan segments.