India: Two-wheeler industry to record fastest growth in five years in FY17

Two-wheeler industry in India is set to record its fastest growth in FY2017, as compared to the previous five years, primarily due to good monsoon rains which will give a boost to rural demand and higher expected spending in cities. Industry players are predicting the market to grow at least in high single digit, going up to double digit growth, in current fiscal year. The two-wheeler market grew 14 per cent in the April-June 2016 with the Scooter segment growing by 27.12 per cent and the motorcycle segment at 8 per cent.

In another significant development, to make quality drugs available at affordable prices to people under Pradhan Mantri Jan Aushadhi Yojana (PMJAY), the Government of India plans to open 3,000 Jan Aushadhi Stores (JAS) across the country by March 2017. The move is expected to play an integral role in improving the healthcare scenario in the country by increasing access to quality medicines. The government is also offering a one-time financial assistance for opening JAS within Government hospital premises.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.