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Home / News / India /  PM Modi to address Investor Summit in Gujarat on 13
August


PM MODI TO ADDRESS INVESTOR SUMMIT IN GUJARAT ON 13 AUGUST

Premium Prime Minister Narendra Modi 1 min read . Updated: 11 Aug 2021, 09:59 PM
IST Livemint

 * Summit, which is being organized by the Ministry of Road Transport and
   Highways and Government of Gujarat, will see participation from potential
   investors, industry experts



Read Full Story


Investor Summit in Gujarat: Prime Minister Narendra Modi will address Investor
Summit in Gujarat on Friday (13th August ) at 11 am via video conferencing, the
Prime Minister's Office said on Wednesday.



The Summit is being organized to invite investment for setting up vehicle
scrapping infrastructure under the Voluntary Vehicle-Fleet Modernization Program
or the Vehicle Scrapping Policy, the PMO said.

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It will also draw focus on the synergies presented by the ship breaking industry
at Alang, for development of an integrated scrapping hub.



The Summit, which is being organized by the Ministry of Road Transport and
Highways and Government of Gujarat, will see participation from potential
investors, industry experts, and concerned central and state government
ministries.

Union Minister for Road Transport and Highways and Chief Minister of Gujarat
will also be present on the occasion.

Vehicle Scrapping Policy

The Vehicle Scrapping Policy is aimed at creating an eco-system for phasing out
unfit and polluting vehicles in an environment friendly and safe manner. The
policy intends to create scrapping infrastructure in the form of Automated
Testing Stations and Registered Vehicle Scrapping Facilities across the country.

In March this year, Union Minister for Road Transport and Highways Nitin Gadkari
announced the Vehicle Scrapping Policy in Lok Sabha. Making a Suo Motu statement
in the Lok Sabha, the Minister said that older vehicles pollute the environment
10 to 12 times more than fit vehicles and pose a risk to road safety.

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“In the interest of a clean environment and rider and pedestrian safety, the
Ministry of Road Transport and Highways is introducing the Voluntary
Vehicle-Fleet Modernization Program (VVMP) or “Vehicle Scrapping Policy" which
is aimed at creating an Eco-System for phasing out of Unfit and Polluting
Vehicles," he added.

The objectives of the policy are to reduce population of old and defective
vehicles, achieve reduction in vehicular air pollutants to fulfil India’s
climate commitments, improve road and vehicular safety, achieve better fuel
efficiency, formalize the currently informal vehicle scrapping industry and
boost availability of low-cost raw materials for automotive, steel and
electronics industry.


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