Several commercial and passenger vehicle manufacturers will offer discounts for buying new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit, Minister of Road Transport & Highways Nitin Gadkari said on August 27.
Gadkari chaired a productive session of the (Society of Indian Automobile Manufacturers) SIAM CEO’s delegation meeting at Bharat Mandapam, New Delhi where he addressed critical issues faced by the automobile industry.
Taking to X, Gadkari said, "I am pleased to report that, in response to my recommendation, several commercial and passenger vehicle manufacturers have agreed to offer discounts for the purchase of new vehicles against the scrapping of older vehicles with a valid Certificate of Deposit.
This initiative will significantly advance our Circular Economy efforts, ensuring that cleaner, safer, and more efficient vehicles are on our roads."
He then congratulated and expressed gratitude to the automobile manufacturers who took the initiative to participate in the Vehicle Fleet Modernization Programme.