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START THE GROWTH ENGINE OF COMMERCIAL VEHICLE INDUSTRIES

START THE GROWTH ENGINE OF COMMERCIAL VEHICLE INDUSTRIES

Recently speaking to media Ashok Leyland MD and CEO Vipin Sondhi told when asked to express his view on GST reduction and scrappage policy, his answer was “yes, it certainly would help in reviving the sector”

D Yadav, Trucking News India, 7 June 2020,

New Delhi : Auto industry is building a narrative and suggesting Govt of India to put in work a long-term policy like GST reduction and scrappage policy for auto sector so that commercial vehicle industries can re-start the growth engine after such a long and huge spell of downturn.

Recently speaking to media Ashok Leyland MD and CEO Vipin Sondhi told when asked to express his view on GST reduction and scrappage policy, his answer was “yes, it certainly would help in reviving the sector”

Ashok Leyland is a flagship brand of The Hinduja Group, manufacturing Commercial vehicle, company is having high hope that things will improve slowly in the current financial year. As we know commercial vehicle sector is facing a huge challenge in the time of downturn due to the corona virus pandemic.

Mr. Sondhi further added “When you look at the commercial vehicle industry, its core to the country, it is pretty much the core industry…to have it at 28 per cent (GST rate) is something which the industry has put forth to the government in the past and now as well. Will it help? It will help, it could be one of the possible demand triggers. The other trigger points could be introduction of a scrappage policy and more investment in rural India”.

Auto industry body SIAM has been urging the government to reduce the GST rate on vehicles from 28 to 18 per cent, and to introduce an incentive-based scrappage policy.

Trucking News India

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