Budget 2022: Long-Term Holistic Growth Plans Need of the Hour for Auto Industry

New Delhi, Jan 28: The Union Budget 2022 should aim at long-term holistic growth for the auto industry prioritizing job creation, infrastructure development, introduction of latest technologies and increased decarbonisation efforts, luxury carmaker Mercedes-Benz India said on Friday. The company retailed 11,242 units in 2021, a growth of 42.5 per cent over 7,893 units in 2020.

“With stable policies and a clear road map for the sector, an accelerated growth can be achieved transitioning the industry swiftly into the emerging e-mobility era, putting the Indian auto industry on the global map,” Mercedes-Benz India Managing Director and CEO Martin Schwenk said in a statement. The Pune-based automaker also sought changes in the existing taxation structure.

“A re-look into the existing taxation structure with a clear focus on the direct tax changes to boost consumption, export promotion, direct job creation and promotion of digitization is highly desired,” Schwenk noted. Continued government spending on infrastructure projects will further propel The demand for both passenger and commercial vehicles, he added.