Skoda Auto Volkswagen India’s Managing Director and CEO, Piyush Arora, has expressed the automobile industry’s expectations for the upcoming Union Budget in India. Following the successful implementation of GST 2.0, the industry is seeking policy continuity and long-term clarity. Arora emphasized the need for sustained support for domestic manufacturing, as well as increased allocation for road and transport infrastructure. He believes that rationalizing the inverted duty structure for electric vehicles (EVs) will strengthen domestic manufacturing and competitiveness, further accelerating India’s transition to sustainable mobility.
Arora highlighted the importance of continued focus on building the EV ecosystem, alongside measures that support household disposable incomes. This, he believes, is essential to sustain demand momentum and reinforce the sector’s role in India’s broader economic growth. The industry is looking for a budget that will provide a boost to domestic manufacturing, infrastructure development, and the adoption of EVs.
The successful implementation of GST 2.0 has set the stage for the industry’s expectations from the Union Budget. Arora’s statement suggests that the industry is looking for a stable and supportive policy environment that will enable it to continue growing and contributing to the country’s economic development. The emphasis on EVs and sustainable mobility is particularly significant, given the government’s push for a transition to cleaner and more environmentally friendly transportation.
Overall, the automobile industry in India is seeking a budget that will provide clarity, continuity, and support for its growth and development. With the Union Budget approaching, the industry is watching closely to see how the government will respond to its expectations and provide a framework for sustained growth and investment. As the industry continues to evolve and grow, the government’s policies and allocations will play a crucial role in shaping its future and determining its ability to contribute to the country’s economic development.