A 5 percent GDP growth rate is certainly not heartening news. But the positive bit is that inflation is down. So interest rates may well continue on their downward trajectory, despite this being an election year. The implication is that industrial revival should get some support.
This is essential if the green shoots of recovery seen in the CV market are to be nurtured. For the first time in many months, freight rates have turned positive. But, this is largely on the basis of seasonal triggers. A strong policy impetus that drives the infrastructure and manufacturing sectors should lend a degree of longevity to the limited optimism being seen in the CV market.
North Indian company, Shigan Group has been offering alternate fuel systems for almost 15 years now. Riding on a slew of technical alliances and considerable localisation, the company is now gunning for the emerging quadricycle market.
It remains to be seen if movement on these fronts occurs with the required urgency. But, policy has played out in a completely different direction. The notification of quadricycles as a separate class of vehicles has set the proverbial cat among the pigeons.
Despite being mandated to be registered as city commercial vehicles, these plucky vehicles have the potential to cause disruptions in segments like three-wheelers, passenger cars (sales of taxi-models or illicit diversions for personal use) and even compact and small commercial vehicles. Given these complexities, it is not surprising that the initial supporters of the quadricycle idea have turned opposers and vice-versa.