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Suppliers in India Ask for a Break on Imported Raw Materials
India's auto supplier trade group is urging the country's central government to help their industry by ending import duties on such raw materials as aluminum, steel and their alloys, The Economic Times reports.
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India's auto supplier trade group is urging the country's central government to help their industry by ending import duties on such raw materials as aluminum, steel and their alloys, The Economic Times reports.
But the Automotive Component Manufacturers Assn. suggests that the government extend duties on imported auto components. Those taxes currently are scheduled to expire at the end of June.
ACMA also has asked the government to encourage investment by allowing suppliers full credit on capital goods in the year of purchase rather than 50% the first year. The group further suggests the depreciation rate on capital goods be raised to 25% from the current 15% to foster more investment in research and development.
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