DGFT EASES GUIDELINES ON AUTOMOBILE INDIGENISATION
Article Abstract:
The Directorate General of Foreign Trade (DGFT) has eased the indigenisation norms of the auto policy to help auto companies to become foreign exchange neutral. It has decided not to take any action against car majors who failed to export any car from the country in 1997-98. The vendors have been allowed to call their automobile indigenous if they import up to 50 percent of the parts, beyond which they will be considered as imported components in the car. Till now, car producers had to keep the indigenisation level at around 70 percent. The policy envisages commencement of fulfilling export obligation from the third year of production. (gsh)
Comment:
India: Directorate Gen of Foreign Trade eases indigenization norms of auto policy to help firms to be foreign exchange neutral
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INDIGENISATION LEVELS FOR BIG AUTO EXPORTERS TO BE CUT
Article Abstract:
The Government of India is thinking of reducing the indegenisation level for automobile manufacturers who earn more through their exports. Under the proposal, manufacturers who import the components will have to export those vehicles in which these components would have been used to neutralise their import bill. Imports and exports would be calculated for each model. The policy does not allow for substitute exports. With the Indian market almost stagnant, this change may boost exports. (uh)
Comment:
India: Govt thinks of reducing indegenisation level for automobile manufacturers who earn more through their exports
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BENZ BARGAINS EXPORTS FOR EASY INDIGENISATION NORMS
Article Abstract:
Mercedes Benz India Ltd has requested the ministry of commerce to ease indigenisation levels in exchange for increased exports. The company plans to produce 6,000 cars by 2000 AD and export one- third of its output. The company is concentrating on exports as sales in the domestic market has been poor. The government has decided to be more flexible in cases that increase exports so as to rectify imbalance between imports and exports. (khr)
Comment:
Requests Min of Commerce to ease indigenization levels in exchange for increased exports
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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