The current fiscal year is anticipated to be favorable for the Indian two-wheeler market. According to the rating firm ICRA, the Indian two-wheeler segment is expected to experience a growth of up to 9% during this fiscal year. This projection is based on various factors. The report suggests that factors such as the continuous rise in replacement demand, the recovery of consumption in cities, and a normal monsoon leading to improved rural income will play a significant role in this growth. Prime Minister Narendra Modi has indicated that the central government is working on a simplified GST system. Under this system, there might be a reduction in GST on small passenger vehicles and two-wheelers. This decision could be implemented before the festive season. This GST reduction is expected to provide an additional boost to the two-wheeler industry. The upcoming festive season is considered the most beneficial period for auto companies. It will help in accelerating sales and demand.
