Exclusive: India plans incentives for auto companies to boost exports - sources

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India is drawing up an incentive scheme for the autos sector aimed at doubling exports of vehicles and components in the next five years, four sources with direct knowledge of the matter told Reuters.

The push, however, comes at a time when auto sales globally have been battered because of the coronavirus pandemic and demand may take a while to recover.

“Having a liberal trade policy will allow companies to bring in new and global technologies which will increase their scale and India’s competitiveness as an export hub,” he said.The initial scheme has been designed to incentivise large companies and in turn benefit smaller players in the supply chain, making the auto sector more competitive overall, one of the sources said.

The terms for auto part makers are the same except that the revenue and profit thresholds are lower, at 20 billion rupees and 2 billion rupees, respectively, the person said.

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where are green, blue, yellow, pink, purple, BRIGHT colours for the roads? boring grey, black & white!!!!!!!!!!!!

they only give to maruti ,,,

Why does it look so mesmerizing 👀

1So many cars! They have that much.... let's give them to the poors... 2Every country and everyone is now is going through recession 3Let's figure out COVID19Update !

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