The Modi-led NDA Government has its priority for growth. The Prime Minister has successfully drawn up a strategic plan of action to take the economy to a higher growth trajectory by 2020. This, despite the mounting challenges being faced by the economy.
This observation was made by Mr. P.P. Puntambekar, Sr. Vice President, Shriram Transport Finance Co. Ltd., in his keynote address at the one-day conference on “Transportation of Men and Materials by 2020 and beyond…” organized by Ecargolog.
Are we future ready?
He said the economy has to be necessarily geared to overcome the challenges and meet the 2020 action plan objectives. The transport sector has already started showing signs of recovery. Many of its problems have been solved for paving the way for its steady growth.
Modernisation is the key to success
Today, after China, India is the largest truck-populated economy in the world. However, a large volume of 10-year-old trucks are plying on Indian roads. This is in striking contrast to the average age of five years for trucks operating in Europe. Official statistics reveal that there are 50 lakh over-aged vehicles in India. Hence, a phased upgradation of vehicles is absolutely essential to solve the problem. The Government should also consider a VRS for over-aged trucks with a view to modernising the existing fleet.
The ‘unsung heroes’
Mr. Puntambekar further said the other major issue faced by the Indian road transport industry is the utter neglect of small truck operators who contribute almost 80 per cent of road transport. Financial institutions and banks are quite indifferent to these ‘unsung heroes’ who approach them for loans to buy trucks.
Again, realising the problems faced by truck operators, the younger generation is not keen on to join the driver community. This has led to a 40 per cent driver shortage in the country. Since the vehicles are produced with advanced technology, proper training is required. In developed nations, the driver deserves his dues by being called the ‘Captain’.
Shriram gesture to drivers
Mr. Puntambekar further disclosed that by driving the vehicles for 18 hours a day for the sake of money, many drivers are sacrificing their precious life. It not only causes various health problems but also leads to death due to fatigueness. As a human gesture to the driver community, Shriram Transport Finance has taken a new initiative by offering 100 mobile clinic vans at major transport centres by tying up with the well-known pharma giant Wockhardt. In order to provide proper education to the driver community, the company is also running a scholarship programme. By attaching greater importance to the road transport community, the company has clearly proved its strong bond with it.