The commercial vehicle industry will also grow as the economy grows: VECV

New Delhi: Sales of the domestic commercial vehicle industry are expected to reach the highest level in the current financial year 2018-19. Vinod Aggarwal, Managing Director and Chief Executive Officer (CEO) of VE Commercial Vehicles (VECV) said this on Monday. He said that the growth of the commercial vehicle industry over the next few years will keep pace with the growth of the overall economy. He said that in the first seven months (April-October) of the current financial year, there has been a growth of 15 percent in the heavy-duty truck segment.

“We are expecting the industry to be either very close to the peak this year or it may even surpass the high of FY 2018-19,” Aggarwal said. He said the economy is expected to grow by Rs 5,000 billion in the next few years. Will surpass the dollar. With this, the industry will also progress.

Aggarwal said, “There are some fundamental reasons for this growth in the next few years. If we look at the economy, at present we are now at a figure of around 4,000 billion dollars and the way it is progressing, it is going to reach 5,000 to 7,000 billion dollars.” He said that if the economy grows, then The commercial vehicle industry will also grow because when more goods are produced, more commercial vehicles are required to transport them from one place to another.