Additionally, the government may offer tax incentives for individuals and businesses that purchase electric vehicles and engage in other sustainable ways of travel in order to encourage the adoption of clean energy solutions in personal mobility.
Another area of focus should be the development of smart cities, which would require investment in technology and infrastructure to support the growth of connected, sustainable, and efficient transportation systems. The government may also consider investing in research and development to support the development of new mobility solutions, including autonomous vehicles and alternative fuel technologies.
The Indian automotive industry, which is a key contributor to the country’s economy, is likely to be a focus of the government’s budget. The government may provide incentives for local manufacturing and encourage investment in the sector to boost the domestic production of vehicles. This could include tax breaks, subsidies, and other forms of financial support.
Furthermore, it is also an absolute necessity that the government addresses the issue of road safety in the country, which is a growing concern as the number of vehicles on the roads continues to increase. This should include initiatives to improve the road infrastructure, increase enforcement of traffic laws, and educate drivers on road safety.
Finally, and quite importantly, the Indian government should also provide a stable and predictable regulatory environment, reduce red tape and bureaucracy, and create a favourable business climate to attract investment and support the growth of the personal mobility sector. This would be great timing as several global VCs are looking to invest in this sector, and India is an attractive market for them. They would appreciate a welcoming environment which protects their interests and investments.
To summarize, at a high level, support points that our government should touch upon:1. Favourable policies for electric vehicles (EVs): This includes tax incentives for EV manufacturers and buyers, subsidies for setting up EV charging infrastructure, and mandates for EV adoption.
2. Infrastructure development: Investment in building and upgrading the infrastructure for personal mobility, including roads, bridges, public transportation, and smart cities, would help to support the growth of the industry.
3. Encouragement of local manufacturing: The government can provide financial incentives to encourage local manufacturing, including tax breaks, subsidies, and low-interest loans, to help companies in the sector become more competitive and create jobs.
4. R&D support: Funding for research and development in areas such as alternative fuels, autonomous vehicles, and connected transportation systems would help companies stay at the forefront of the industry and support the growth of new mobility solutions.
5. Skilled workforce development: Investment in training and education programs for the workforce in the sector, including technicians, engineers, and drivers, would help companies access the talent they need to grow and succeed.
The writer is Founder & CEO, Saratthi Mobility
