The last time was in 2020 just before the wave of corona hit. The event was cancelled last year due to the pandemic. The country’s biggest car fair ‘Auto Expo’ is being held again. The fair organized by SIAM, the association of car companies, ACMA and the Chamber of Commerce CII is starting on Wednesday.
SIAM claims that besides traditional fuels, there will be various alternative fuel technologies and vehicles in practice (such as electric, ethanol, CNG, LNG, hydrogen, etc.). Which is the first.
Such car fairs are organized around the world to showcase new technologies, ideas and car buyers to the concerned circles. It is one of the most powerful marketing and promotion strategies of the car industry. This fair of India is already recognized in the world. It is organized in two parts. Car fair in Greater Noida. And parts industry fair at Delhi’s Pragati Maidan.
Statement from SIAM DG
SIAM DG Rajesh Menon said that about 80 organizations are participating in the Greater Noida fair this time. Of these, 46 companies manufacture cars. Most of the known companies remain. But according to sources, there will not be Mahindra, BMW, Mercedes Benz, Audi, Volkswagen, Nissan etc. And more than 800 companies are appearing in the parts industry fair. ACMA’s DG Binny Mehta said that the number of companies is about 200 more than in 2020. There are participants from 15 countries including Canada, Germany, Britain, America.
Rajesh said, apart from cars, companies will showcase different types of electric and hybrid (conventional fuel and electric) technologies. Honda Motorcycles, Hero MotoCorp, TVS, Bajaj Auto, Maruti Suzuki, Toyota Kirloskar Motors will showcase natural gas, bio fuel or biofuel (ethanol) technology and vehicle ‘prototypes’ or moulds.
Companies are always looking forward to use such fairs as a platform to bring new cars to the market or present future ideas. According to SIAM sources, the number of such vehicles will be 75. Five of these cars will be the first in the world to be marketed from this stage. The fair will also have a separate stage for the display of expensive and luxurious ‘super cars’. There will be a vintage car stage.
The union budget is to be presented in February
The Union Budget for the financial year 2023-24 is going to be presented in Parliament on February 1. This is the last full budget of the current Modi government before the Lok Sabha elections next year. That is why this year’s budget is significant for both the government and the public. About which various speculations have started in different quarters. A few years ago, the Modi government reduced corporate taxes. Many people hope that personal income tax can be solved in this phase.
Others are hoping that tax exemption levels may be increased under various sections. Industries will be looking at the budget as well as common people. Especially those who have suffered major financial injuries during the corona infection. And now are under the pressure of high interest rates.