Auto Budget 2015 expectations: Vimal Sumbly from Triumph India
"Considering the fact that India has an aspiring & vivacious consumer base that has the zeal to explore new experiences and avenues, it is definitely a place every brand should be present in. But the need of the hour is a more conducive environment.
The govt. in the upcoming budget should look at cutting down excise duty. This is necessary to not only boost the overall sentiments of the business environment but will also effectively aid the 'Make in India' campaign.
Another step that Govt. can take to boost the industry would be to reduce the repo rate by RBI. This will boost investment in the economy and help the already existing companies by positively stimulating demand and also increase liquidity in the market. Moreover, post the Govt. withdrawing excise duty benefit from the auto sector forcing car and two-wheeler makers to increases prices by 1-5%, this rate cut will help bolster sales as consumer loans would get cheaper.
To support the 'Make in India' campaign, it would also be good to see some relaxation in the clearance procedures for Infrastructural projects. Another interesting approach the Govt. can take which can effectively boost the premium motorcycle industry in India would be to cut import duty on products which don't conflict with the already existing Indian manufacturers. For instance, reduce duty on motorcycles that are 800 cc and above. No Indian manufacturer sells in that segment and hence will not adversely affect the Indian grown businesses and will simultaneously support foreign luxury manufacturers.
For any manufacturer, the expectation from the Govt. will just be with regards to making the environment more encouraging and also to trim down the extremely high duties allowing us to be relevant to a larger section of people."
Team OD | 14 Nov 2019
Team OD | 13 Nov 2019
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