Huge jump in exports of India’s goods transport vehicles: Piyush Goyal – Times of India

As the auto industry is slowly recovering in this post-covid era, commercial vehicles There are also signs of recovery in the segment. Another factor which has been a matter of pain for the industry is the shortage of semiconductors which further affected the growth in recent times. However, we can now see hope with reports of shortages and the commercial vehicle industry is also showing early signs of normal and steady growth.
Minister of Commerce and Industry, Piyush Goyal On September 20, tweeted, “Motor vehicles used for freight transport have seen a growth! In April-July 2022, a growth of 327% over the same period of 2013-14. Goyal is the leader of India’s goods transport vehicles. Were referring to the substantial growth in exports, which reported earnings of Rs 4,414 crore in April-July 2022. An increase of 327% over April-July 2013-14, earning Rs 1,034 crore based on provisional data.

Recent data shared by Society of Indian Automobile Manufacturers (Siam) also corroborates recovery claims as it reports that 23,266 small freight carriers (up to 1 tonne capacity) were sold domestically in April-August 2021, an increase of 35,020 over the same period in FY 2022-23 happened. However, the total exports of such small carriers declined to 1,842 units during the same period as against 4,156 units in the previous year.

Compared to a total of 614,961 commercial vehicles sold domestically in 2013-14, the upward trend continues as SIAM reports that 716,566 commercial vehicles have been sold in FY 21-22. Such signs of recovery come as a relief to both manufacturers, dealers and consumers after a prolonged period of stalled growth.

The recently launched commercial vehicles segment is likely to get a further boost National Logistics Policy (NLP) by Prime Minister Narendra Modi, This policy will promote seamless movement of goods across the country and accelerate development. Growth in the logistics sector will also mean better sales of commercial vehicles. The emphasis is on bringing down the country’s logistics cost from its current level of 13-14 per cent of the national GDP to below 10 per cent by the end of 2022. Overall, the Indian logistics sector is valued at over USD 200 billion and is very complex.