On Friday, Prime Minister Narendra Modi propelled the national vehicle scrappage policy, stating it will boost phase-out unfit and polluting vehicles and develop a circular economy.
The policy will provide India’s mobility and auto sector with a new identity. Modi declared in a video address to the Investor Summit to invite investment to establish up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernisation Programme.
A circular economy is one where products are composed for stability, reuse and recyclability. The policy will also furnish a new uniqueness to India in the mobility and auto sector; we are encouraging a circular economy. The intention is to cultivate a sustainable, environment-friendly economy, Modi remarked.
“This policy will strike a major role in removing unfit vehicles from our roads in a scientific manner. It will modernise the vehicular population on our city roads,” he stated. The prime minister told India should operate for clean, congestion-free and convenient mobility in the 21st century. The policy will present a pivotal role in the ‘Waste to Wealth’ programme, Modi stated, adding it will also help in reducing pollution in our cities.
The launch of the 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. I would request our youth & start-ups to join this programme, Modi tweeted before the event.