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* India: To double trucks' Customs duties
* New Delhi -To discourage imports
-- India will double customs duties on commercial vehicles including trucks to discourage imports. The effective levy on imported commercial vehicles will be raised to 20 percent from 10 percent, according to the federal budget presented to parliament today... While the number of trucks and buses being imported into the South Asian country is small, India’s automobile manufacturers’ group said there had been concern that the prevailing low tariff could encourage manufacturers to bring in vehicles from China. Domestic commercial vehicles sales declined 4.6 percent in the 10 months ended January, on track for the third consecutive annual drop... Between April and November, 1,210 trucks and buses were imported into India, according to data on the website of the Ministry of Commerce and Industry. In the period, a total of 393,162 locally-made commercial vehicles were sold, according to SIAM data... New Delhi, India -Bloomberg, by Siddharth Vikram Philip -February 28, 2015)
Labels: truckmakers news India
posted by Unknown @ 6:43 AM
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