India is fast catching up with global emission regulation trends, which will translate into world class products with the implementation of Euro V and Automatic transmission standards by 2015.
With fiscal policies regarding goods and services tax (GST) in India likely to be implemented soon, it would pave the way for an efficient, single tax system for the movement of goods and make the supply chain effective, says a new study. “By eliminating multiple taxes at the state entry points, GST is set to integrate State economies and boost overall growth,” said an analyst with Frost and Sullivan (F&S). “Commercial vehicle owners can perform rationalisation similar to warehousing on distribution and transportation routes, as taxes cease to become a defining factor,” she added.
A F&S study says the government subsidies for components used in green and fuel-efficient vehicles is set to encourage vehicle owners to switch to fuel-efficient vehicles in the near future. Apart from favourable regulations, technological advancements will also play a role in greatly improving fuel efficiency and slowing down environmental degradation.