Union transport minister Nitin Gadkari on Thursday suggested focusing on enhancing liquidity in business, as ups and downs are common.
“One needs to plan for bad times while working for growth. The industry should focus more on innovation, technology and research skill to become competitive in the global market,” he added.
Gadkari was addressing a video conferencing with the members of SIAM Institute on the impact of COVID-19 on the auto sector.
It was attended by MoS Gen (Retd) K Singh, Secretary RTH Giridhar Aramane, and senior officers of MoRTH.
During this interaction, members expressed concerns regarding various challenges being faced by the industry amid COVID-19 pandemic along with few suggestions and requested support from the government to keep the sector afloat.
Speaking further, the minister further informed that he has set a target of constructing roads worth Rs 15 lakh crore in the next two years.
“He said, his ministry is working overtime to clear all arbitration cases with concessionaires.
Responding to the queries from the representatives, Gadkari assured all possible help from the government.
He informed that he would take up the issues at the appropriate level in the govt and other departments.
The Minister informed that he has directed the ministry officials to finalise the auto scrapping policy quickly, and said, it will go a long way in cost reduction.
He also suggested exploring cheaper credits including foreign capital for enhancing liquidity in the automobile manufacturing sector.
On the question of BS4 vehicles, he said, the government is bound by SC verdict on the same.