About 1.1 mn old medium & heavy CVs offer significant potential for scrappage: ICRA

India's Vehicle Scrappage Policy targets around 1.1 million commercial vehicles over 15 years old, aiming to boost replacement demand and modernise fleets. Despite benefits like reduced air pollution and raw material costs, challenges include limited scrapping facilities and awareness. An additional 5.7 lakh vehicles may reach the 15-year age by 2027, enhancing potential replacement.