PM Modi addresses Investor Summit in Gujarat virtually and launches 'Vehicle Scrappage Policy'

Prime Minister Shri Narendra Modi attended and addressed the Investor Summit in Gujarat via video conference on August 13, 2021, organised for setting up vehicle scrapping infrastructure in Ahmedabad.
As a part of the Summit, PM Modi launched the National Automobile Scrappage Policy. The new policy invites investment for setting up vehicle scrapping infrastructure under the Voluntary Vehicle-Fleet Modernization Program.
The basic objective of the vehicle scrapping infrastructure will be to phase out unfit and polluting vehicles in an environment-friendly manner. This will reduce pollution, create job opportunities and boost demand for new vehicles.
PM Narendra Modi described the policy as a ‘waste-to-wealth mission’. He also requested the youth & start-ups to join this programme.

Vehicle scrapping facility

The Gujarat government has joined hands with auto major Tata Motors for setting up of a vehicle scrapping facility in Ahmedabad.
The scrappage centre will be for both passenger and commercial vehicles.
It shall have a capacity of recycling up to 36,000 vehicles a year.

Source: PIB