PM addresses Investor Summit in Gujarat

Launches Vehicle Scrappage Policy Our aim is to create a viable circular economy and bring value for all stakeholders while being environmentally responsible: PM Vehicle Scrappage Policy will play a big role in the modernization of the vehicular population in the country, removing unfit vehicles from the roads in a scientific manner: PM The goal of Clean, Congestion Free and Convenient Mobility, is the need of the hour for 21st century India:PM The Policy will bring in a fresh investment of more than Rs 10 thousand crores and will create thousands of jobs: PM New scrapping policy is an important link in the circular economy of Waste to Wealth: PM People with scraping certificate of the old vehicle will not have to pay any money for registration on the purchase of a new vehicle, some exemption in road tax too: PM It is our effort to reduce dependence on imports with regard to the value chain of auto manufacturing: PM Active industry participation is needed in ethanol, hydrogen fuel, electric mobility, R&D and infrastructure: PM Prime Minister Shri Narendra Modi addressed the Investor Summit in Gujarat via video conference. The Summit is being organized to invite investment for setting up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernization Program or the Vehicle Scrapping Policy. It will also draw focus on the synergies presented by the ship breaking industry at Alang, for development of an integrated scrapping hub. Union Minister for Road Transport & Highways and Chief Minister of Gujarat were also present on the occasion. The launch of Vehicle Scrappage Policy today is a significant milestone in India’s development journey. The Investor Summit in Gujarat for setting up vehicle scrapping infrastructure opens a new range of possibilities. Vehicle scrapping will help phase out unfit and polluting vehicles in an environment friendly manner. “Our aim is to create a viable circular economy and bring value for all stakeholders while being environmentally responsible, ” said the Prime Minister in a series of tweets before the event. While launching the National Automobile Scrappage Policy, the Prime Minister said that this policy is going to give a new identity to the auto sector and to the mobility of New India. This policy will play a big role in the modernization of the vehicular population in the country, removing unfit vehicles from the roads in a scientific manner. He said that modernity in mobility, not only reduces the burden of travel and transportation, but also proves to be helpful for economic development. The goal for 21st century India to be Clean, Congestion Free & Convenient Mobility, is the need of the hour. The Prime Minister said the new scrapping policy is an important link in the circular economy and in the waste to wealth campaign. This policy also reflects our commitment to reduce pollution from the cities of the country and protect the environment and fast development. This policy by following the principle Reuse, Recycle and Recovery will also promote the country’s self-reliance in the auto sector and in the metal sector. The Policy will bring in a fresh investment of more than Rs 10 thousand crores and will create thousands of jobs. The Prime Minister stressed that as India is about to enter the 75th year of Independence the next 25 years is very important. He said there would be many changes in the way of working the business and in everyday life in the next 25 years. He said in the midst of this change, it is equally important to protect our environment, our land, our resources and our Raw Material. He said we can work on Innovation and Technology in the future, but the wealth we get from Mother Earth is not in our hands. The Prime Minister remarked that today, on one hand India is exploring new possibilities through the Deep Ocean Mission, while on the other it is also encouraging a circular economy. He added that the effort is to make development sustainable and environment friendly. The Prime Minister highlighted the unprecedented work done in the energy sector. India has entered in the front ranking countries in the field of solar and wind energy. Shri Modi emphasized that this waste to wealth campaign is being linked with Swachata and Aatmnirbharta. The Prime Minister said that the general public will benefit greatly from this policy in every way. The first advantage will be that a certificate will be given on scrapping the old vehicle. Whoever has this certificate will not have to pay any money for registration on the purchase of a new vehicle. Along with this, he will also be given some exemption in road tax. The second benefit will be that the maintenance cost, repair cost, fuel efficiency of the old vehicle will also be saved in this. The third benefit is directly related to life. There will be some relief from the high risk of road accidents due to old vehicles and old technology. Fourth, it will reduce the harmful impact of pollution on our health. The Prime Minister stressed the fact that, under the new policy vehicles will not be scrapped merely on the basis of age. Vehicles will be scientifically tested through authorized, automated testing centres. Unfit vehicles will be scrapped scientifically. It will ensure that registered vehicle scrapping facilities all over the counties are technology driven and transparent. The Prime Minister said that this new policy will give new energy and security to the scrap related sector. Employees and small entrepreneurs will get a safe environment and will get the benefits like the employees of other organized sectors. They will be able to work as collection agents for the authorized scrapping centres. The Prime Minister lamented the fact that we had to import 23,000 crore worth of scrap steel during the last year as our scrapping is not productive and we are not able to recover energy and rare earth metals. The Prime Minister informed that continuous steps are being taken to make Indian Industry sustainable and productive for speeding the process of Aatmnirbhar Bharat. He emphasized that it is our effort to reduce dependence on imports with regard to the value chain of auto manufacturing. The Prime Minister said that be it ethanol, hydrogen fuel or electric mobility, with these priorities of the government, active participation of the industry is very important. From R&D to infrastructure, the industry has to increase its partnership. He asked them to have a roadmap for aatmnirbhar Bharat for next 25 years. Whatever help you need for this, the government is ready to give it, he assured. The Prime Minister said that today, when the country is moving towards clean, congestion free and convenient mobility, there is a need to change the old approach and practices. Today’s India is committed to provide global standard safety and quality to its citizens and this thinking is behind the transition from BS-4 to BS6, he concluded.