Several truck owners’ associations in India are going on strike as part of their protest against the sharp increase in third-party motor insurance premiums. This could cause disruptions in the supply of several valuable commodities.
The South India Motor Transport Association has already been on indefinite strike since Thursday, while the All India Confederation of Goods Vehicles Owners’ Association (ACOGOA) called for a nationwide indefinite strike beginning April 01.
Meanwhile, All India Motor Transport Congress’ (AIMTC) president SK Mittal said that they are protesting against the Insurance Regulatory and Development Authority of India’s (IRDAI) proposal to hike third-party motor insurance premiums by almost 50% starting April 01. He also called for the revival of the tariff advisory committee.
“Previously, the tariff advisory committee was an active body having representatives from all stakeholders,” said Mittal. “The committee must be reinstated and real time data should be made available to the committee to take the final decision on hike.”
AIMTC’s strike is set to begin on April 20.