|
Gautam Singhania, Chairman and Managing Director (MD) of Raymond and Founder of the Super Car Club of India, highlighted a significant opportunity for restoration work in India, given the country's labour-intensive nature. This presents a unique potential for growth and development in the restoration sector.
Speaking to ANI on the sidelines of the Bharat Mobility Global Expo 2025, Singhania said that the matter has been raised before the government, given the huge opportunity in the sector. Raymond Chairman and Managing Director Singhania said, "There is a huge opportunity to do restoration of cars and mechanical work for the cars because it is a labour arbitrage business today. The way labour costs are going up in the foreign countries and the non-availability of labour, the same way that the textile industry moved from Europe, the same way the engineering industry has moved. There is a very big opportunity to do restoration work in India." "We have taken it up with the government and hopefully we should see something positive," Singhania told ANI. Talking about the opportunity in the Indian economy, Singhania expressed his enthusiasm, adding that India is a vibrant country with 1.4 billion people and a huge level of consumption, which is a reason for his bullishness. Singhania spoke on the his iitiative, Super Car Club Garage (SCCG), adding, "In 2007, we started as a small club of enthusiasts. Today it's become a very big movement. This last event we had last weekend had over 250,000 people that came to the show and it was probably the biggest show in the world for cars." He said, "We also set the India Book of Records for the largest number of cars that participated. We had 580 vehicles under supercars, superbikes, vintage cars, vintage bikes, modern classics, the Rolls Royce enthusiast club, and Harley Davidson. It was truly an enthusiastic gathering. I think the supercar movement has gone to another level." Backed by Raymond Chairman and MD, SCCG has sought Centre's approval for a licence to import foreign vehicles for restoration and subsequent re-export, as per the publically available information. Currently, regulations in the country does not permit restoration work for international vehicles. The present regulations permits import of cars only manufactured before 1950. (ANI)
|
