Vikrant Shekhawat : Jan 31, 2025, 06:00 AM
Union Budget 2025: With Budget 2025 approaching, major automobile sector players, such as Maruti Suzuki and Tata Motors, are expecting significant policy support from the government to accelerate the industry's slowing growth.Maruti Suzuki Expectations:Maruti Suzuki India Executive Director (Corporate Affairs) Rahul Bharti said that if Budget 2025 takes steps to boost consumption, it will be beneficial for the auto industry. "What is good for India is good for Maruti. If the economy does well and consumption increases, it will be good for us," he said.The company expects retail sales to grow 3.5% in the fourth quarter, indicating an improvement in consumer demand.Tata Motors Expectations:Tata Motors Group Chief Financial Officer PB Balaji said that if the government takes steps to boost demand in the budget, it could accelerate domestic growth. "Demand is sluggish after the festive season due to several reasons, including liquidity constraints," he said. Balaji expects the situation to improve in the fourth quarter due to strong demand and infrastructure investments by the government.Focus on electric vehicles:Maruti Suzuki recently announced plans to set up fast charging points every 5 to 10 km in India's top 100 cities to address challenges in adopting electric vehicles (EVs). Additionally, the company is also looking at launching a battery rental service to address cost and infrastructure-related concerns of EVs.Tata Motors and others are also taking initiatives such as free charging and battery rental schemes to boost EV sales.Prime Minister Narendra Modi, while inviting investors during the auto show, said the government is ready to provide support for expansion in the sector. "This is the right time for big investments in the sector," he said.These major companies in the automobile industry are hoping that the steps taken by the government in Budget 2025 will accelerate the growth of the industry and boost consumer demand.