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India to save Rs 60,000 crore fuel on FAME scheme, informed at SIAM convention

SIAM

Ravindra Pisharody, Vice President, SIAM & Executive Director (Commercial Vehicles), Tata Motors, Rattan Kapur, President, ACMA and Chairman & Managing Director, Mark Exhaust Systems, Dr Naushad Forbes, President, CII and Co-Chairman, Forbes Marshall, Anant G Geete, Minister of Heavy Industries and Public Enterprises, Vinod K Dasari, President, SIAM and Managing Director, Ashok Leyland, John Moavenzadeh, Head of Mobility industries, World Economic Forum on Global Trends in Mobility, USA and Vishnu Mathur, Director General, SIAM at 56th annual convention of SIAM

India will save fuel worth Rs 60,000 crore on the back of the government allocating Rs 15,000 crore for FAME scheme, said Anant G Geete, Union Minister of Heavy Industries and Public Enterprises.

Geete was addressing at 56th  annual convention of Society of Indian Automobile Manufacturers (SAM), which was held with the theme of ‘Building the Nation, Responsibly’.

Further Geete said the Indian auto industry played a major role in the ‘Make in India’ programme initiated by the Prime Minister.

The environment is one of the biggest concerns for the sector. Therefore the government has allocated Rs 14,000 crore for the FAME scheme for promoting hybrid and electric mobility, which will save Rs 60,000 crore fuel, thereby benefitting the environment.

Reiterating the government’s support to the Industry, the Minister added , “India is looked upon as the world’s youngest nation because we have the most people below 35 years. We should use this youth power by giving them jobs. And the auto industry has the biggest scope for providing these jobs.”

Addressing at the inaugural session, Vinod K Dasari, President – SIAM, said: “We appreciate the support from the Minister and the Ministry of Heavy Industries. We also welcome the government’s efforts in passing GST but request that there be no more than two rates for the automotive industry.”

Dasari said the Indian automotive industry is facing new challenges in providing sustainable mobility for the masses. The industry sought a long-term roadmap on safety, emissions and fuel efficiency norms.

“In order to make practical and rational regulations, we seek a single ministry, single window for the industry. We would also like to thank the Government for accepting SIAM’s suggestion of the fleet modernisation scheme.”, he added.

The industry will be happy to offer further incentives to customers to supplement the government’s incentive for purchase of a new vehicle against a scrapped vehicle.”

John Moavenzadeh, Head of Mobility Industries, World Economic Forum on Global Trends in Mobility, USA. said: “We are witnessing the fourth industrial revolution and the shifting Automotive Game. The fourth Industrial Revolution is not categorised by one single technology but by diverse technologies”

Moavenzadeh said the global auto industry is in the midst of a more profound transformation not seen in the past 100 years.

Automotive demand is undergoing a seismic shift between developed and emerging economies. The automotive game is changing from volume to value; from the customer’s focus on the product to the mobility experience; from customer-driven vehicles to software-driven ones.

By 2026, Moavenzadeh the Indian automotive industry will be among the top three in the world in engineering, manufacture and exports of vehicles and components.”

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