India –Union Minister Mr Nitin Gadkari announced in the Indian Auto expo 2020, the final draft of Vehicle Scrapping1, set for implementation .
The draft was published earlier on 14th October , 2019 by Ministry of Road Transport and Highways (MORTH), based in New Delhi.
(Scrapping policy draft news was written in TBB Nov 2019)
As per government estimates, over 28 million end-of-life vehicles or ELVs (older than March 31, 2005) across categories will be ready to be discarded by April 2020. This would translate into a massive opportunity for players in the organised scrappage and recycling industry.
Typically, a scrappage policy will also incentivise owners of old vehicles to dispose them off in a proper manner.
1Guidelines for setting up, Authorisation and Operation of Authorised Vehicle Scrapping Facility.
