Efforts are on to set up a logistics park in Maharashtra's Sindi, Nitin Gadkari said (File)
The voluntary scrapping policy for old and unfit vehicles announced in the Union Budget for 2021-2022 will help create jobs for 25 lakh people and lower the price of auto components by as much as 40 per cent, Union Road Transport and Highways Minister Nitin Gadkari said on Saturday.
The minister said moves initiated by the Centre will make India an automobile manufacturing hub in five years.
Vehicles older than 15 years are not fuel efficient and also have high maintenance costs, and the scrapping policy will help overcome these problems, he added.
Rs 50 crore will be allotted by the Union MSME ministry to set up research and training facilities in the Mahatma Gandhi Institute for Rural Industrialisation (MGIRI), Mr Gadkari said.
Efforts are on to set up a logistics park in Maharashtra's Sindi and work on Concor's dry port is also progressing, he added.
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