HYDERABAD: The state government will discuss with the Union Government and Insurance Regulatory Development Authority (IRDA) to introduce vehicle salvaging and refurbishing industry in India, said IT, Industries and Municipal Administration minister KT Rama Rao.
“Vehicle salvaging and refurbishing business is new to India and Telangana government will discuss with the Centre and IRDA for introducing the business in India and pave way for sustainable and environment friendly way of disposal of used and damaged vehicles,” said Rama Rao after launching the global salvaging and online vehicle auctions company, Copart’s India Technology Centre in Hyderabad on Tuesday.
Stressing that the decision of Copart to set up its technology centre in Hyderabad will ensure its robust growth, Rama Rao assured that the state government will provide all support for the firm to enter Indian market.
Copart has plans to expand not just its technology operations but also to enter Indian market and introduce the business of vehicle salvaging and re-marketing business in the country. “We work closely with insurance companies and to enter into Indian market we are discussing with Telangana government, insurance companies and regulators here,” said Rama Prasad, senior vice president and chief technology officer, Copart.