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Porsches, BMWs may get cheaper
Posted on 30 Jul 201225,303 Views10 Comments
Government in talks with EU to slash import duty on European cars to 10 per cent
In exchange, India expects to get more visas for its professionals, a relaxation of EU norms that require manufacturers keep elaborate database on chemicals used in their products.
India's wishlist also includes recognition as a data secure country for carrying out off-shore operations, a quality certificate for its herbal products and lower duties on labour intensive products such as leather and textiles.
The concessions on automobiles and alchohol, if they form part of the final agreement, will be unique as they are absent in similar agreements it has entered so far with countries like Singapore, Japan, Malaysia, South Korea, Sri Lanka and the ten-member Asean.
The Indian automobile industry has criticized the government's move to liberalise imports. SIAM has warned that imports will deter investments as foreign car makers would prefer to export their cars to India rather than set up manufacturing facilities. French carmaker Peugeot has put off its plans to invest in India, reportedly, in the hope of reaping benefits of lower duties once the India-EU FTA gets implemented.
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Readers' opinions ( 10 )
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ashutosh prabhakar
very nice
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Jim
dont know about you guys but i have to wait longer for my new car
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Naresh
We can not benefit ourselves each way, while we like open market policy when it benefit us but decry it when it benefit my competetor. Let us be mature to accept the reality of world.
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SHAMSHER
I DON'T THINK SO
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B Rodrigues
About time. The 4 WD MINI Countryman I bought in UK would cost me nearly Rs 40 lacs in India with all accessories included whereas I paid only around half of that.
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Mohd Maqbool Ahmed
Government reducing import duties on luxury cars is a welcome step.The people will get good cars at a more cheaper rate.This will also increase the competion in the Indian Car market.
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