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In a veiled warning to the domestic auto sector, the Commerce Ministry on Friday said it cannot continue protecting the industry while duty barriers are coming down all over the world.
“...we have to look at to what extent the present tariff protection to the auto sector is sustainable ... we will have to question ourselves on the sustainability of a long-term tariff protection plan, particularly in an environment where every country is bringing down tariffs,” Commerce Secretary Rajeev Kher said here.
He was speaking at the Society of Indian Automobile Manufacturers annual convention.
India is protecting the domestic auto industry from overseas competition while signing free trade agreements with different nations and groups.
Kher said that while negotiating trade agreements one has to keep in mind the overall interest of different sectors.
“Over the last several years, by creating a tariff protection, we have consciously nurtured the industry. I think the point has come when the automotive plan needs to look to what extent we want to continue with that and how we want to bring it down to some kind of global par,” he said.
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