The Prime Minister requested youths and start-ups to join the programme.

 

The PM said, "India is committed to provide global standards to its citizens as far as safety and quality is concerned. The direct transition from BS-4 to BS-6 is a part of the very same thought process. The government is working extensively at every level from research to infrastructural facilities for providing Green and Clean mobility in the country."

 

"Currently the present scrapping procedure in the country is not productive. The energy recovery is next to nil. High strength steel alloy cannot be recovered to its full value. Precious metals also cannot be recovered. Last year, we had to import scrap steel worth Rs 23,000 crore," Modi said.

 

"It is the government's sincere and full fledged efforts to reduce our reliance on imports. Constant efforts are made to boost Atma Nirbhar Bharat and make the auto industry's value chain sustainable and productive. The National Vehicle Scrappage Policy is one such big step. Now with the scientifically based scrapping procedures, we will be able to recover not only required metals and reduce the imports, but also recover rare earth metals," said the PM.

 

The PM said, "The policy will play a big role in the modernisation of the vehicular population in the country, removing unfit vehicles from the roads in a scientific manner. Not only will it bring in investments of around Rs 10,000 crore, but also provide vast employment opportunities for small traders and workers associated with the scrap industry."

 

"Not only the automotive industry but the scrap related sector will also get a new energy, a new security. The small traders and workers related to the scrapping industry will experience a big change in their lives and a secure atmosphere. They will also avail the benefits available in the organized sector. The small traders could also become collecting agents for Authorized Scrapping Centres," the PM said.

 

The summit is aimed at getting investments for setting up vehicle scrapping infrastructure.

 

According to the policy, a certificate will be issued on the scrappage of old vehicles. It will ensure that people scrapping their vehicles will get a discount on buying new vehicles and benefit in taxes.

 

Personal vehicles older than 20 years and commercial vehicles older than 15 years will have to undergo a fitness test at government registered 'automated fitness centres'.

 

Vehicles that fail to pass the test will be declared as 'End-Of-Life vehicles' (EOL), which would mean that the vehicle would have to be recycled. This will pave the way for older vehicles to be scrapped. In case the vehicle passes the test, the owner will have to pay a hefty fee for re-registration.

 

According to the new policy, the re-registration fee would be hiked to around eight times for personal vehicles, and around 20 times for commercial vehicles.

 

Union Minister for Road Transport and Highways, Nitin Gadkari and Gujarat Chief Minister Vijay Rupani were also present on the occasion.

 

The event, which saw participation of potential investors and industry players, was organized to attract investment for setting up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernization Programme, an official release said.