Covid-battered auto sector needs support in Budget 2022

By Greg Moran, CEO & Co-Founder, Zoomcar

"The economy is on the road to recovery and the Union Budget 2022-2023 will be crucial for the auto sector as it can facilitate the industry’s effective revival. We are confident that with the right policies and support, the sector is poised for growth. One of the key areas for both the government as well as the Auto sector is Electric Mobility. With several Indian and international groups keen to invest in the Electric Vehicle (EV) segment, the government should focus on bolstering the infrastructure to enable easy manufacturing and usage of EVs and EV-related elements such as charging kiosks to boost demand. With regards to technology, we are in the midst of one of the biggest tech-led transitions in India and the world and we expect that this year’s Union Budget will focus more on tech-led developments in the Auto sector. It presents the perfect opportunity for the industry to capitalize on and boost growth. We also look forward to more tax incentives for the travel and trade industry."