Discussion in 'T&AA - Travel and Anything Automotive' started by JD666, Jul 4, 2012.
BMW is coming down hard on Audi ..
Your Supercars to get cheaper -
India is talks with EU to cut the import duty on imported automobiles from the current 60% to 10% for the next five years under the Free Trade Agreement.
The proposal will bring a fixed quota-tariff to about 2.5 lakh imported cars for 5 years.
Once the agreement passes .. India can import 40,000 cars in the first year and 5000 more cars each year there-on.
In exchange for this India is demanding that EU issue more visas for its professionals, recognition as a secure data country to be able to carry out more off-shore operations & less regulations for Chemical export to the EU etc.
On the home front SIAM ,, (Society for Indian Automobile Manufacturers) has raised a concern over this proposal saying that the move will discourage European automakers from investing in India-based-manufacturing. Also India is exploring the possibility of cutting the duty on cars from Non-EU countries to half (30%).
Apart from cars EU also wants a reduction in the duty imposed on Wine & Whiskeys ..
Win Win situation all around ..
JD666 ManISinJpr SumitB RajaPraveen
Closing thread, for new thread for month of August will be opened.
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