GY PRIVATE LIMITED

In their own words

ABOUT THE PROPOSED PROJECT The Factory/Plant of M/s G Y PRIVATE LIMITED is situated at Village Barirai, P.O.- Gadarpur, Distt- Udham Singh Nagarr (Uttarakhand) 19 km in the north west of District Headquarters. The proposed project is for establishment of an industrial unit for Dismantling & sale of dismantled parts Vehicles i.e. a `Registered Vehicle Scrapping Facility`. As Notified by The Ministry of Road Transport & Highways (Transport Division) Government of India for Registered Vehicle Scrapping Facility for scrapping of old vehicles. We have got license from the Government for setting up the Registered Vehicle Scrapping Facility as per the guidelines issued by the Government. SCOPE OF BUSINESS & MARKET POTENTIAL The Vehicle Scrappage Policy, launched on August 13, 2021, is a government-funded programme to replace old vehicles with modern & new vehicles on Indian roads. The policy is expected to reduce pollution, create job opportunities and boost demand for new vehicles. Several countries including the US, Germany, Canada and China have introduced vehicle scrappage policies to boost their respective automotive industries and curtail vehicular pollution. Large automakers are on boarding this policy by launching scrappage centres including CERO by Mahindra & Mahindra (2018) and Maruti Suzuki Toyota by Maruti Suzuki and Toyota (2019). This policy also supports India’s ‘Green India’ mission, as it creates space for a cleaner fleet of vehicles. According to the new policy, commercial vehicles aged >15 years and passenger vehicles aged >20 years will have to be mandatorily scrapped if they do not pass the fitness and emission tests. The policy does not treat a vehicle as scrap just because of its age, but considers other factors such as quality of brakes, engine performance and others. The objective is to phase out old cars, reduce urban pollution levels and stimulate automotive sales, which continues to record slowdown amid India’s post-COVID recovery phase.

Written by the company on its public Startup India profile. Not verified by us.