2009 brings a good news for the foreign car manufactures with the renewed export policy on new cars.
Now foreign car manufacturers will be able to export vehicles to India from places other than their country of manufacture. This policy implies to cars having a free on board (FOB) value of Rs 1.9 million or more with engine capacity of more than 3,000cc for petrol variants and 2,500cc for diesel variants.
The flexibility of the policy has simplified the export process for the foreign car manufacturers. The policy was introduced in the Exim Policy for 2001-02, but was unfriendly and created a lot of export issues. The new policy will now help those foreign car manufacturers who were unable to export cars to India due to various restrictions.
Further to facilitate the import of cars in India, Kochi has been added in the list of permissible customs ports which currently comprises the Nhava Sheva, Kolkata, Chennai, ICD Tughlakabad, Delhi Air Cargo and the Mumbai Port.
I think that the Government should also introduce some lenient import policies for Indian car manufacturers. Even they need some relief from the slowdown in the car market.
New Foreign policy means new cars on Indan Roads, its going to be rally wonderful.. Allthose cars which were seen overseas will roll here. I think the year 2009 is taking off with a blast for the car manufacturers..
New Foreign policy means new cars on Indian Roads, its going to be rally wonderful.. All those cars which were seen overseas will roll here. I think the year 2009 is taking off with a blast for the car manufacturers..