Lok Sabha 2019 Election Results – Here’s How Auto Industry Reacted to the BJP Victory
The automobile industry is one of the largest contributors to Make-In-India, PM Modi's pet project.
BJP workers welcome Prime Minister Narendra Modi as he arrives at the party headquarters to celebrate the party's victory in the 2019 Lok Sabha elections, in New Delhi. (Image: PTI)
The largest democratic elections in the world featuring 90 Crore voters, 542 Lok Sabha seats and innumerous candidates came to an end on 23rd May, 2019 with Prime Minister Narendra Modi led BJP-NDA Alliance winning a second term in India. PM Modi has been vocal about ease of business in India alongside his pet project Make-in-India to promote manufacturing business in the country. One of the largest contributors to the manufacturing sector is the automobile industry of India. Here’s how the industry reacted to the landslide victory of BJP and PM Modi-
R.C. Bhargava – Chairman, Maruti Suzuki India, the largest four wheeler manufacturer of India said, “The 2014 mandate to Mr. Modi was to restructure governance and economic development systems and create employment by accelerating growth especially manufacturing. The voter was dissatisfied with what had been happening till then. Mr. Modi initiated many reforms but the work could not be completed as it involved making mindset and behavior changes and legal enactments and other steps faced political difficulties. The voter has now exhibited full confidence in what Mr. Modi was doing and has given him an overwhelming mandate to proceed further. The understanding and maturity of the voter is truly outstanding.”
Electric industry will see a boom over the next couple of years in India. Here’s a quote by Sohinder Gill, Director General, Society of Manufacturers of Electric Vehicles on Poll result: “We congratulate BJP for winning the mandate in the general election 2019. In the last 5 years, the government led by Shri Narendra Modi has initiated many programs in order to fight the menace of air pollution. We hope that the government would undertake and resolve several long-awaited issues that are required to give impetus to India's dream of clean mobility by 2030. We are confident that the government will continue to work relentlessly for the welfare of the citizens and take India to new heights.”
Rajeev Kapur, Managing Director, Steelbird Helmets & President, Two Wheeler Helmet Manufacturers Association believes a stable government at the centre will further boost the growth in the Automotive Industry – “We hope that the new government demonstrates concrete action to push investments, increase growth and generate employment. Furthermore, we are expecting the upcoming government will make the GST NIL on the helmets and even the input credit should be granted to the helmet manufacturers, leading to low cost of ISI Mark helmets for the consumers and millions of lives can be saved.”
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