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The statement further said this initiative is a significant step forward in advancing India’s circular economy, promoting the use of cleaner, safer and more efficient vehicles.
Union Road Transport and Highways Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
“During this interaction, responding positively to the advice of Hon’ble Minister RT&H and recognising the importance of Fleet Modernisation and Circular Economy, multiple Commercial Vehicle Manufacturers and multiple passenger vehicle manufacturers have agreed to offer discounts for a limited period against a certificate of deposit (Scrappage Certificate),” the statement said.
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The statement noted that these discounts will further incentivise the scrapping of vehicles, thereby ensuring the plying of safer, cleaner and more efficient vehicles on the roads.