FADA concludes the 12th edition of Vyapar Rajasthan Conclave in the Jaipur




Best Reporter News ,New Delhi, April 25, 2022: The Federation of Automobile Dealers Associations (FADA) today hosted the 12th edition of FADA Vyapar Rajasthan on the theme of “Vyapar Rajasthan: Change, Adapt & Sustain Auto Retail Industry”. Hon’ble Minister of Transport & Road Safety of Rajasthan, Shri Brijendra Singh Ola, chaired the conclave along with senior government officials, executives from Indian and multinational auto manufacturers, industry stalwarts, as well as Rajasthan representatives of FADA.

Other distinguished guests included Hon’ble Chief Secretary, Rajasthan Smt. Usha Sharma, Shri Abhay Kumar, Additional Chief Secretary Transport, Transport Commissioner Shri Kanhaiya Lal Swami. Shri Satish Upadhya, Special Commissioner GST, FADA President Shri Vinkesh Gulati, Treasurer FADA, Shri Sai Giridhar and Rajasthan State Chairperson Shri Sharvik Shah inaugurated the conclave.

The Hon'ble Chief Minister of Rajasthan, Shri Ashok Gehlot could not attend the event, but he sent his best wishes to Federation of Automobile Dealers Association (FADA) and the Rajasthan Auto Dealer community. In his response to the invitation from FADA, Shri Gehlot welcomed all the participants and delegates to the Pink City and wished them to hold a successful event. He appreciates the association's & Retail Automobile Industries contribution to the state, stating, "Business fraternity in the state had suffered a lot as a result of the pandemic, and auto dealers were no different.". Covid has radically changed the state's economic landscape. He said that conferences like these would help build confidence among businessmen and entrepreneurs and pave the way for innovation in the automobile industry." Demonstrating confidence in the association, he added, "The conference will serve as a platform for state's automobile retailers to prepare the industry well to take on new challenges in the post-pandemic era." 

 

Shri Brijendra Singh Ola Hon’ble Minister of Transport & Road Safety of Rajasthan said, “I am really excited to be part of this event, such event brings lot of positivity and confidence among the business community in the region. The type of gathering showcases the willingness among the individuals to work under these adverse conditions. We appreciate the contribution made by the retail automobile industry during covid conditions. They have been making a remarkable contribution to the growth of the state and we would like to support the community in the best possible way. I would like to assure the association that the issues put across to us will be addressed on priority and all possible efforts will be made to revive & sustain the auto retail industry for futureAdditionally, he urged the association & dealer community to do more to generate road safety awareness, as the industry is the last link before an individual drives their vehicle on a road.

 

Expressing his gratitude to the Rajasthan chief minister, Mr Vinkesh Gulati, President of FADA, said, “Rajasthan, the state has been an important market for the automotive industry. As an important member of the Indian automobile industry, we are committed to offering the best services to our customer base in the region. The resilient dealer community has outgrown the covid adversity in past and now with the commitment we have received from our state government leadership has further energise the community to give its best making a stronger contribution to the state’s economy. FADA as an association stand committed to its members to offers them the best support to keep the business thriving and efficient.”

 

The conclave comprised five acquaintance sessions, each graced by prominent speakers who discussed various aspects of the Auto Retail Industry such as Future of Auto Retail, Preparedness for GST Audit, gearing up for Financial Prudence, Insurance and Scrappage Policy.

 

Session 1: Future of Auto Retail

The first panel discussion focused on the Future of Auto Retail, wherein the panellists talked about the changing scenario of the Indian Automobile Industry due to the pandemic and changing consumer buying behaviour. The industry witnessed the emergence of virtual showrooms and the rise of digitisation. The discussion noted the increased digitisation which can keep the dealership business thriving and keep the workforce efficient.

 

The panel comprised industry stalwarts such as Shri Sanjeev Kumar, Head Trucks & Buses, Ashok Leyland; Shri Shashank Srivastava, ED, MSIL; Shri Vinkesh Gulati President FADA, and Shri Kanwaljeet Nagpal, Regional Director, FADA Rajasthan.

 

Session 2: Auto Retail & GST

The second panel focused on the changing regime in the Auto Retail and Goods & Service Tax (GST) for the Industry. The session was attended by Mr Satish Upadhya, Special Commissioner, GST. The discussions revolved around the preparedness of the sector for GST audit, Efficient use of GST in day-to-day business.  In addition, key do’s and don’ts for GST and concerns of automobile dealers were discussed. The sector analyst acknowledged, majority of the dealers have got the hang of the new tax system, but some are still coping with the change. The constant rolling out of new updates by the government adds to the complexity but will be affective in long term The industry experts elaborated on the benefits of timely filing of GST returns, uploading accurate data, maintaining proper documentation and so on.

 

The panellists were Dr. Ravi Kumar Surpur, Commissioner - Commercial Tax, Rajasthan; Shri Jatin Harjai, Leader- JHA Legal; Mr. Arvind Mishra, XXXXXX, and Shri Sai Giridhar, Treasurer, FADA.

 

Session 3: Financial Prudence

The third session was on Financial Prudence, which has been one of the key concerns of the dealer community for a long. Shri Rajan Pental, Senior Group President & Global Head, Yes Bank made the key address, for the session. The slowdown in auto sales and the impact of Covid are major challenges. The auto dealership is a unique business where the margin is less and a larger portion of the earning is invested in operational costs.  Inventory build-up, Infrastructure maintenance cost, operational cost etc went through a much-needed cost correction. The pandemic has taught us to make some tough decisions under adverse conditions to keep ourselves efficient and financially prudent.  The panellists discussed better planning and investing to yield the highest returns possible and minimize the loss percentage. Pave the way to a bright and safe future for the dealers.

 

They included Shri Vivek Tripathi, Head of Commercial Banking, AU Small Finance Bank; Shri Lavesh K. Sardana, Country Head-Retail Assets & Debt Management, Yes Bank; Shri Bhaskar Karkera, Executive Vice President, AU Small Finance Bank; Shri Ravi Modani, Founder & CEO, 121 Finance; and Shri Subhash Chandra Gehlot, Regional Director FADA Rajasthan; Moderated by Shri Sheshank Kaul, Director, Restructuring and Turnaround, EY

 

Session 4: Insurance

The past two were years a roller-coaster ride for the global community. Though the insurance sector has shown resilience, there is a need for a comprehensive dealer policy to cover both foreseen and unforeseen risks. The panel discussed at lengths about the need for insurance to face the risks and be prepared well in advance if any such situation arises. The absence of insurance can prove to be a very major mistake ending up leaving a deeper impact on the company’s financial existence. Thus, there is a pressing need of insurance for proper coverage and financial support against all risks that may or may not occur.

 

 The panel included Shri Subhashish Majumdaar, Business Head-Motor, BAGIC; Shri Suraj Parihar, Chief Regional Manager, The Oriental Insurance Company Ltd; and Shri Jayesh Dhoot, Regional Director, FADA Rajasthan.

 

Final Session: Scrappage Policy

Clean and Green India and Green mobility are some key projects of the Indian government and the newly introduced scrappage policy is a historic milestone. The elite panellist had senior executives from government bodies, research organisations and the regional director of FADA. The panel focused on the Scrappage Policy its efficiency, practicality and convenience. he The growing business opportunity for in establishment of RVSF & ATS. MoRTH released the long-awaited scrappage policy talking about the voluntary scrapping policy. The scrappage scheme will be used as a compulsory fitness test that all the concerned vehicles will have to undergo at an automated fitness centre. While new vehicles will be the least polluting, older vehicles that produce significant pollution and have low safety requirements will be eligible for scrapping, making roads safer and the air cleaner, besides adding new business opportunity for the community.

 

The members of the Final Panel Included Smt. Shruti Arora, Director, PWC; Shri RC Yadav, Additional Commissioner, Transport, Rajasthan; and Shri Sourabh Agarwal, Regional Director, FADA Rajasthan.

 

The conclave was organised following all government-regulations & covid precautions. The conclave witnessed participation of over 350 delegates representatives from different parts of the city & town of Rajasthan.

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