Deal Description

Venture debt fund sought to implement the Automotive AIS140 Certified VTS devices - GPS 2G Hardware kit order. INR 56,12,500 required to service a PO of 10,000 units over an year. It is estimated that there are over 2.5 Crs of commercial vehicle in PAN India , that require installation of Vehicle Tracking Device as per MORTH Guidelines. There has been a continuous increase in the number of registered motor vehicles in India since 1951. The total number of registered motor vehicles increased from about 0.3 million in March, 1951 to 253. The total registered vehicles in the country grew at a Compound Annual Growth Rate (CAGR) of 10.11 per cent between 2007 and 2017 India ranks 8th in terms of total vehicles in use across the 192 countries, as reported in the World Road Statistics, 2018. However, India's total vehicle penetration rate of 32 vehicles per thousand population is the lowest amongst the top fifteen countries arranged as per vehicle strength. Vehicle Penetration of United States, China, Japan, Brazil and Russia is higher by a factor of about 25.1, 4.19, 19.3, 10.31 and 11.34, respectively. Transport sector accounted for 4.85 percent of the country's GVA (Gross value addition) in 2016-17 with road transport accounting for 3.12 per cent of the GVA, Railways accounting for 0.77 percent and Air Transport accounting for 0.16 percent. Sustained economic development and expansion of road network have led to rapid increase in the number of motorized vehicles in India.

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