Blitz Bureau
NEW DELHI Driven by friendly government policies, rapid urbanisation and economic growth, sales volumes of commercial vehicles (CV) have nearly recovered to the pre-Covid times, according to Girish Wagh, Executive Director of Tata Motors. Wagh, Chairman of CII-ICVC (Indian Commercial Vehicle Conclave) emphasised the transformative juncture at which India’s CV industry stands.
Wagh highlighted that India’s urban population is expected to reach 600 million by 2031, driving increased demand for CVs in sectors such as construction, logistics and public transportation.
Projected GDP growth of 6-7 per cent and initiatives like ‘Make in India’ are further boosting demand for both heavy and light CVs. Wagh hailed the National Logistics Policy and the PM Gati Shakti initiative, as these will lay down a framework for a significant reduction in logistics costs. According to Nishant Arya, Vice Chairman and Managing Director, JBM Group, the global transportation sector accounts for approximately 24 per cent of direct CO2 emissions from fuel combustion and, therefore, “it becomes our shared responsibility to address this serious concern by use of technology, transition to alternate and green fuels.”
According to the Federation of Automobile Dealers Associations (FADA), the retail sales of automobiles in the country registered a 9 per cent growth in the April-June quarter in FY25, compared to the same period last year.
