In this section we are giving the latest information on various economics and commercial aspects governing the Indian Automobile Sector.

In the first section we have given the Auto Policies of Government of India to facilitate sustainable development of Indian Automobile industry.

In the second section we have given the current rates of major duties and taxes applicable to vehicles in India. Excise Duty is essentially a manufacturing tax imposed on all vehicles manufactured in India. The same rate is applicable to imported vehicles in the form of Counter Vailing Duty (CVD). Custom Duty is essentially an import duty applicable on all imports.

VAT has recently replaced Local Sales Tax in India. However, VAT has not yet been adopted by all states in India.

In the next sub-section we have given the SIAM activities related to Union Budget. We have given the SIAM Pre-Budget Memorandum, which was submitted to Ministry of Finance before the Union Budget and is essentially a compilation of SIAM suggestions for changes in policy and procedure issues related to the Budget. We have also given the Union Budget highlights which are related to the Automotive Sector.

Finally, in the Trade Policies section we have given write-ups on India’s engagements in various Trade Negotiations, Indian Preferential Trade agreements and NAMA negotiations in WTO and Indian Automobile Industry.

The last section on other issues covers the latest available information of India’s Trade.