Vehicle segments have witnessed a remarkable growth in the export and import of production and sales this financial year, Bureaucracy Today has learnt.
According to the figure obtained from Society of Indian Automobile Association (SIAM), from April 2016 to January 2017, the production and sales growth of automobiles were 6.05 per cent and 8.00 per cent respectively. The figure has almost tripled as compared with the year 2015-16, which were 2.58 per cent and 3.78 per cent. The growth rate in 2013-14 was 4.13 per cent in production and 3.54 per cent in sales.
“Department of Heavy Industry has not undertaken any study on the impact of demonetization on Auto Sector. (However) Government is working with the auto industry on many initiatives to boost the automotive industry,” Minister of State in the Ministry of Heavy Industries and Public Enterprises, Babul Supriyo informed Lok Sabha on Tuesday.
The minister has also emphasized on the scheme Faster Adaption & Manufacturing of (Hybrid) Electric Vehicles (FAME India), launched by the Government to provide benefits to electric & hybrid manufacturers to help increase penetration of environment friendly products in the country.