The Society of Indian Automobile Manufacturers (SIAM), the apex body of the vehicle makers in India has welcomed the Budget as it focused on building long-term strength using investment as the growth lever while maintaining policy stability and inclusivity.
According to Kenichi Ayukawa, President, SIAM, the 35% increased Capex outlay, major infrastructure projects like 25,000 km road construction, 100 cargo terminals, Project GatiShakti, 5G network, optic fibre cable laying, and the recent PLI schemes are major positives.
Leveraging Biomass and support to ethanol blending for both environmental and economic gains could unlock the power of India’s rural Economy. Steel price cooling-off measures will help the entire manufacturing sector. The impetus to charging infrastructure, energy storage systems and government support in R&D for clean energy, green mobility, and semiconductors will help the auto sector. 'We welcome the message on Ease of Doing Business and look forward to this being observed in spirit by all department,” Ayukawa added.