Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
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Industry & Economy
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Automobiles SIAM upset over homologation sops for high-end cars Our Bureau
New Delhi , Jan. 29 THE Society of Indian Automobile Manufacturers (SIAM) has welcomed the proposals announced by the Government in the mini Exim Policy and said that "the overall policy is consistent with our objective of going global". The Association, however, has expressed concern over a significant change in policy with regard to import of new vehicles. The Government has permitted import of completely built vehicles without homologation by individuals/companies and firms under the EPCG Scheme, where the vehicle's c.i.f value is $40,000 and above. According to SIAM, this move is likely to have an adverse impact on the domestic automobile sector, including auto components. "This move by the Government is not consistent with the approach of encouraging domestic value addition as laid down in the auto policy. This policy change by the Government comes at a time when the domestic industry is showing an upward trend after nearly three years of depressed sentiment. SIAM is of the view that given the strong linkages that the automobile sector has with the rest of the economy, a relaxation in the import of completely built new vehicles would be a set back to the domestic manufacturing sector as a whole,'' the Association said. SIAM further pointed out that the policy "unfortunately" does not address the issues relating to mutual recognition of certification. All vehicle exports from India have to undergo a rigid homologation process in the destination countries to comply with their norms and standards.
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