As Prime Minister Narendra Modi announced the special stimulus package of Rs. 20 lakh crore, the commercial vehicle industry will definitely see improvement as the economy kicks back into gear, said Vipin Sondhi, Managing Director & CEO, Ashok Leyland.
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As per Sondhi, “The address by our Prime Minister has lifted spirits and created positive sentiments. It was inclusive, comprehensive, and compelling.”.
He added, while he awaits the details, the announcement of reforms-cum-stimulus on the lines of 10 per cent of GDP, amounting to Rs 20 trillion has the potential to be sustainably beneficial to all sectors of the economy.
“Industry and in particular the CV industry will stand to gain as well as the economy starts to move again,” he added.
Sondhi further said that the PM’s vision to push Make in India further into action, generating local demand and reviving the local supply chain can bring the economy back into action and make the country more self-reliant. He added that these measures were “the need of the hour, and frankly more than expected given the limited fiscal room that was available.”
“With the pride of Make in India through quality, we look forward to a stronger, self-reliant India where everyone prospers,” said Sondhi.
He further went on to say, “Over the next 18 – 24 months, we as a nation would do well to focus on developing state-of-the-art, technology-enabled industrial parks owned by the State Industrial Development Corporations or co-owned through Public-Private Partnerships or through 100 per cent private investments.