Here is a compilation of how the Industry leaders in the Indian Auto Industry reacted on the Union budget 2017
Quote on Union budget- Volvo
The quote from Mr. Tom von Bonsdorff, Managing Director, Volvo Auto India, as a view on the Union Budget presented today.
“The Union Budget measures to incentivise and promote infrastructure augurs well for the economy and the auto sector. The focus on boosting of rural demand is also encouraging. While it was anticipated that there won’t be any major changes in existing indirect taxes in this Budget in view of impending GST implementation, any measures to promote green technology would have given customers more options of environment friendly vehicles.”- Mr. Tom von Bonsdorff, Managing Director, Volvo Auto India.
Post budget reactions – Mr Vimal Sumbly, MD, Triumph Motorcycles India
Mr. Vimal Sumbly, M.D Triumph Motorcycles India says- “The Union Budget 2017 has announced several positive measures to provide growth impetus to the economy and to stimulate demand. The proposal to increase allocation in infrastructure development will create a solid foundation for long term growth. Increase in rural farm credit will boost sentiments in the rural areas, pushing demand in a variety of sectors including automobiles. The Budget’s focus on youth, SME segment and digitisation bode well for catalysing India’s consumption story”.
Please note – We have not edited the quotes and are published as we have received it.
This post will be updated as we receive more information from other Industry leaders