New Delhi, Jan 30 (PTI) Motorsports, auto gaming arena and autonomous vehicle display will be among the key attractions at the upcoming 14th edition of the biennial Auto Expo, according to industry body SIAM. Also Read - Happy New Year 2021: 'May The Spirit of Hope & Wellness Prevail', PM Modi Extends Greetings
The expo, from February 9-14, will see 24 new launches and unveiling of over 100 vehicles. Besides, there will be 12 startups participating in the event, the majority being in the electric vehicle space. Also Read - President Kovind Extends New Year Greetings, Hopes India Marches Ahead to Achieve Progress
“There are many events happening for the first time, including Motorsports, auto gaming arena, future decoded (virtual reality zone) and autonomous vehicle display which will show what the future would be like,” SIAM President Abhay Firodia told reporters here. Also Read - Pranab Mukherjee's Book Blames Sonia Gandhi, Manmohan Singh For 2014 Poll Debacle
The expo, co-organised by Society of Indian Automobile Manufacturers (SIAM), CII and Auto Component Manufacturers Association of India (ACMA), will be held at the India Expo Mart in Greater Noida,
The components show will be held at Pragati Maidan in the Capital from February 8-11.
Firodia further said that during the expo, visitors will get a chance to see what an autonomous vehicle powered by artificial intelligence is and how it will benefit the consumer and increase safety.
He said: “There are a 100 exhibitors in the show, up from 88 in the previous expo. Interestingly there are 12 startups, compared to two last time which shows the kind of change that is coming over in economic thinking in India.” On Budget expectations, ACMA President Nirmal K Minda said the auto components industry is looking for a growth oriented budget, while wishing that GST rate on all components would be rationalised to 18 per cent.
Currently there are two slabs of 18 and 28 per cent, he added.
Firodia said the automotive industry contributes 18 per cent to the GDP and provides employment to 32 million people, so the role of the sector in economy is very large.
“We also hope that considering that the industry needs to spend significantly on R&D, government needs to encourage it by reinstating 200 per cent weighted deduction on R&D expenditure,” Minda said.
From 2017-18, the weighted tax deduction on research and development (R&D) expenses has been reduced to 150 per cent from 200 per cent earlier.
This is published unedited from the PTI feed.