"We recently held a meeting with members of the Society of Indian Automobile Manufacturers (Siam). The final regulations are likely to be issued in the next 10 days," a government source informed.
The move, according to government officials, is a step toward "formalising" vehicle scrapping in the country and make automakers "active stakeholders" in the broader policy against air pollution.
India currently has just 70 registered vehicle scrapping facilities (RVSFS), as listed on Siam's website. With the impending regulations set to take effect in less than seven months, automakers will be pushed to make substantial investments, either by establishing their own RVSFS or partnering with third-party operators, the sources indicated.
The Ministry Environment, Forest and Climate Change (MoEFCC) had earlier issued a draft notification on January 30 under the Environment (Protection) Rules, 1986, outlining “extended producer responsibility (EPR) for endof-life vehicles".
Denne historien er fra September 04, 2024-utgaven av Business Standard.
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Denne historien er fra September 04, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Low valuation sparks interest in IndusInd
Analysts believe worst may be over for lender after sombre Q2 results
Demand, margin gains ahead for UPL
Agrochemicals manufacturer UPL reported a muted quarter as operating profit remained flat on a year-on-year (Y-o-Y) basis, due to a price decline (down 7 percent Y-o-Y) and surplus capacity in China.
Exchanges roll back direct payout of securities to client accounts
The National Stock Exchange (NSE) and BSE on Tuesday announced rollback of the direct payout of the securities to client demat accounts—which was enabled on November 11.
Swiggy makes market debut today
Shares of food delivery major Swiggy will make stock market debut on Wednesday following its ₹11,327 crore initial public offering (IPO), second biggest this year and sixth-largest to hit the domestic market.
NTPC Green Energy IPO eyes $12 bn Valuation
NTPC Green Energy Ltd is considering seeking a valuation of about $12 billion in what could be one of India's biggest initial public offerings (IPO) in the renewable energy industry, according to people familiar with the matter.
Sebi simplifies process for registration of certain FPIs
Abridged version of application form to be available in 3 months
11 of 17 Nifty sector indices in correction mode
As many as 11 of 17 frontline Nifty sector indices are in 'correction' mode with energy, auto and central public sector enterprises (CPSE), consumption, and fast-moving consumer goods (FMCG) suffering the most in the recent market fall, according to data.
Nifty falls to near 5-month low
Earnings disappointment and foreign outflows continue to weigh on markets
BITING THE BULLET
The Bullet Train has been a 'dream project'. Can it become a reality anytime soon?
India to be among top 3 or 4 mkts for Siemens in 3 years
Country now contributes 3.5-4% to the firm's revenue
