The minister stated that India can serve as a hub for scrapping in South Asia, pointing out that the National Vehicle Scrappage Policy benefits all parties involved.
“Circular economy is very important and it is going to create jobs in the country,” Gadkari stated.
In August 2021, Prime Minister Narendra Modi announced the National Vehicle Scrappage Policy, stating that it would aid in the phase-out of outdated and environmentally harmful cars while simultaneously advancing a circular economy.
The states and Union Territories (UTs) will offer up to a 25% tax rebate on road tax for automobiles that are bought after old vehicles are scrapped, according to the new policy announced by the Centre.
The policy regarding vehicle scrappage is operative as of April 1, 2022.
