Press release from Business Wire India
Source: Frost & Sullivan
Wednesday, September 26, 2012 11:14 AM IST (05:44 AM GMT)
Editors: General: Economy, Environment, Social issues; Business: Automotives, Business services, Information technology; Technology; Automotive
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New Road Transportation Policies to Bring Order to the Indian Commercial Vehicle Industry, Finds Frost & Sullivan
Environmental concerns drive promotion of fuel-efficient commercial vehicles
Mumbai, Maharashtra, India, Wednesday, September 26, 2012 -- (Business Wire India) -- The Government of India's budget for FY 2010-11 clearly point toward heavy investments in the Indian infrastructure segment, bringing cheer to the commercial vehicle (CV) market. Acknowledging the rising need for green initiatives, the Government also mandated the use of compressed natural gas (CNG) for the registration of CVs in the metro cities.
New analysis from Frost & Sullivan (http://www.automotive.frost.com), Impact of Regulatory Trends on Commercial Vehicle Industry in India, finds that India is fast catching up with the global emission regulation trends, which will translate into world-class products with the implementation of Euro V and Automatic transmission standards by 2015.
Fiscal policies regarding goods and services tax (GST) across India is likely to be implemented soon. This will pave the way for an efficient, single tax system for the movement of goods across the nation and make the supply chain more effective.
"By eliminating multiple taxes and quotas at the state entry points, GST is set to integrate state economies and boost overall growth," said Frost & Sullivan's Analyst. "CV owners can perform rationalization similar to warehousing on distribution and transportation routes, as taxes cease to become a defining factor."
Government subsidies for components used in green and fuel-efficient vehicles will encourage vehicle owners to switch to fuel-efficient vehicles in the near future. Apart from favorable regulations, technological advancements will also play a role in greatly improving fuel efficiency and slowing down environmental degradation.
The entry of global CV majors to the market will significantly raise the bar on technological innovations and impel domestic manufacturers to refine their designs and engineering, especially in the bus segment.
Currently, the bus segment is disorganized and heavily dominated by small-scale participants with inadequate resources to cater to the huge demand. More public-private-partnerships could remedy this situation and make public transport more accessible, efficient, and comfortable.
"Consequent to the strong economic growth in India, the expanding urban population as a percentage of the total population is expected to be the key driver for public transport and thereby, CVs," noted the Analyst.
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an e-mail to Ravinder Kaur/ Priya George, Corporate Communications, at ravinder.kaur@frost.com/ priyag@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by e-mail.
Impact of Regulatory Trends on Commercial Vehicle Industry in India is part of the Automotive & Transportation Growth Partnership Services program, which also includes research in the following markets: Strategic Analysis of Commercial Vehicles Market in India and Strategic Roadmap for Multi Axle Vehicles in India. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Impact of Regulatory Trends on Commercial Vehicle Industry in India
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CONTACT DETAILS
Ravinder Kaur, Corporate Communications - South Asia , Frost & Sullivan, +91 9940141714 / +91 (44) 66814080, ravinder.kaur@frost.com
Priya George, Corporate Communications - South Asia, Frost & Sullivan, +91 9840355432 / +91 (44) 66814456, priyag@frost.com
Nimisha Iyer, Corporate Communications - South Asia & Middle East, Frost & Sullivan, +91 9820050519 / +91 (22) 66072004, niyer@frost.com
KEYWORDS
ECONOMY, ENVIRONMENT, SOCIAL, AUTOMOTIVE, BUSINESS SERVICES, IT, TECHNOLOGY, AUTOMOTIVE
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