Commerce minister Piyush Goyal says free-trade agreements (FTAs) with Japan and South Korea have cost India billions, with South Korean automakers importing “indiscriminately" into India. Mint explains the auto sector’s complicated relationship with FTAs.
How do FTAs impact the auto sector?
India is the world’s third largest auto market. FTAs, which remove or lower import duties for Indian-made vehicles, can offer access to new markets for Indian automakers. FTAs also aid technology transfers and are a positive for the auto components trade. However, the reduction in duties on Completely Built Units (CBUs)—fully-built vehicles—coming into India can impact local manufacturing as global manufacturers get the opportunity to import vehicles at competitive prices into India. This can potentially slow down future investment in localization.
What about the UK and EU?
この記事は Mint Mumbai の March 02, 2023 版に掲載されています。
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この記事は Mint Mumbai の March 02, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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