On Tuesday, several major commercial and passenger vehicle manufacturers agreed to provide discounts on new vehicle purchases in return for scrapping old vehicles, as announced by Nitin Gadkari, Union Minister for Road Transport and Highways.
This announcement came after a meeting with a delegation from the Society of Indian Automobile Manufacturers (SIAM) at Bharat Mandapam. The initiative is designed to encourage the shift towards cleaner, safer, and more efficient vehicles.
📍𝑩𝒉𝒂𝒓𝒂𝒕 𝑴𝒂𝒏𝒅𝒂𝒑𝒂𝒎, 𝑵𝒆𝒘 𝑫𝒆𝒍𝒉𝒊
Chaired a highly productive session of the SIAM CEO’s Delegation Meeting at Bharat Mandapam today, where we addressed various critical issues facing the automobile industry.
I am pleased to report that, in response to my… pic.twitter.com/9n4aUdgoby
— Nitin Gadkari (@nitin_gadkari) August 27, 2024
Gadkari on X (formely Twitter said) said, “Chaired a highly productive session of the SIAM CEO’s Delegation Meeting at Bharat Mandapam today, where we addressed various critical issues facing the automobile industry. I am pleased to report that, in response to my recommendation, several commercial and passenger vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit. This initiative will significantly advance our Circular Economy efforts, ensuring that cleaner, safer, and more efficient vehicles are on our roads.”
“Congratulations and gratitude to the automobile manufacturers who have taken the initiative to participate in our Vehicle Fleet Modernization Programme. I trust that others will soon follow their lead and join us in this important endeavor,” he further added in a post.
