Scrapping Policy To Bring In More Than Rs 10 Thousand Cr investment

Scrappage Policy to bring in more than Rs 10 thousand crore investment

Stressing that new scrapping policy was an important link in the circular economy of “Waste to Wealth”, Indian Prime Minister Narendra Modi stated that people with scraping certificate of the old vehicle will not have to pay any money for registration on the purchase of a new vehicle.

They will also get exemption in road tax too, he said while addressed the Investor Summit in Gujarat, organized to invite investment for setting up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernisation 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.

Stating that the launch of Vehicle Scrappage Policy was a significant milestone in India’s development journey, Modi said 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.

Launching the National Automobile Scrappage Policy, the Prime Minister said that the policy was 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 and Convenient Mobility, is the need of the hour,” he stated. He mentioned that the policy reflected the commitment to reduce pollution 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 said.

Modi said that as India is about to enter the 75th year of Independence the next 25 years is very important. He stated that many changes would come in the way of working the business and in everyday life in the next 25 years. “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,” he stated.

He told the meeting that India on the one hand was exploring new possibilities the Deep Ocean Mission and on the other hand was also encouraging a circular economy.


On the energy sector, the Prime Minister stated that the country was led that the country was among the top ranking countries in the field of solar and wind energy. He also emphasized that this waste to wealth campaign is being linked with Swachata and Aatmnirbharta.

He also mentioned that vehicles would not be scrapped merely on the basis of age. Vehicles would be scientifically tested through authorized, automated testing centres. Unfit vehicles will be scrapped scientifically. The Prime Minister informed that continuous steps are being taken to make Indian Industry sustainable and productive for speeding the process of Aatmnirbhar Bharat.


Please enter your comment!
Please enter your name here