Import Restrictions may Disturb Car Production in India
Posted on November 25th 2008Welcome back!
The Indian auto industry, which is already facing some rough climate these days, has showed its unhappiness with government’s current decision to impose restrictions on import of certain key components in India.
Bumper parts and Transmission shafts were from free import group till now. However, according to the recent notification of DGFT (Director General of Foreign Trade), these automobile components now included in restricted category. Hot rolled, flat rolled iron products or non alloy steel (600mm width) or more, not clad, coated/plated components have been put under the restricted category. These components are utilized by the auto component makers to create car chassis.
The new notice indicates belated deliveries as the industries will require to apply for the import license in turn to import these components and then utilize them at their plants.
By editor in Auto India News