+
 Volvo Group seeks for moderate taxation regime for automobile sector
ROADS & HIGHWAYS

Volvo Group seeks for moderate taxation regime for automobile sector

Volvo Group India stressed on the requirement for a careful and selective strategy on phased manufacturing programmes in some places to enhance technology adoption, pitching for a more moderate taxation regime for the automobile sector in the Union Budget.

In its pre-budget expectation note, Volvo Group president and managing director, Kamal Bali had told the media that the industry is looking forward to a resolute policy to evade inverted duty structure for components.

He said that Volvo Group India was expecting and wishing to witness the budget continuing to press forward on infrastructure-focused capital expenditure, clean, green and connected logistics, to guarantee a strong, competitive and sustainable industrial ecosystem. After a stellar peak performance in 2018, the automotive sector, especially the CV industry struck a bit of a roller coaster with the new axle load mandate, graduation to BS-VI regulations, along with Covid-19 jolt and lockdowns, the surging commodity costs, chip shortage influencing the supply chain in the past few quarters.

While the last few quarters have been a term of good recovery and rebound, the industry is yet not close to the peak of 2018. Terming the production-linked incentive (PLI) scheme, together with the vehicle scrappage policy as path-breaking measures and many more, initiatives hit at the root of the restrictions that they have been confronted with and thus bode well for the economic development.

Stating that the automotive sector, which adds to nearly half of India's industrial gross domestic product (GDP), is at the cusp of a significant shift on the back of emerging technologies, climate agenda and future mobility trends. But, the sector needs some help on a more moderate taxation regime.

Image Source

Also read: Volvo CE records 13% y-o-y increase in Q2 sales

Volvo Group India stressed on the requirement for a careful and selective strategy on phased manufacturing programmes in some places to enhance technology adoption, pitching for a more moderate taxation regime for the automobile sector in the Union Budget. In its pre-budget expectation note, Volvo Group president and managing director, Kamal Bali had told the media that the industry is looking forward to a resolute policy to evade inverted duty structure for components. He said that Volvo Group India was expecting and wishing to witness the budget continuing to press forward on infrastructure-focused capital expenditure, clean, green and connected logistics, to guarantee a strong, competitive and sustainable industrial ecosystem. After a stellar peak performance in 2018, the automotive sector, especially the CV industry struck a bit of a roller coaster with the new axle load mandate, graduation to BS-VI regulations, along with Covid-19 jolt and lockdowns, the surging commodity costs, chip shortage influencing the supply chain in the past few quarters. While the last few quarters have been a term of good recovery and rebound, the industry is yet not close to the peak of 2018. Terming the production-linked incentive (PLI) scheme, together with the vehicle scrappage policy as path-breaking measures and many more, initiatives hit at the root of the restrictions that they have been confronted with and thus bode well for the economic development. Stating that the automotive sector, which adds to nearly half of India's industrial gross domestic product (GDP), is at the cusp of a significant shift on the back of emerging technologies, climate agenda and future mobility trends. But, the sector needs some help on a more moderate taxation regime. Image Source Also read: Volvo CE records 13% y-o-y increase in Q2 sales

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code