Indias auto exports down 9.7% in Q1 2016-17
The Dollar Business Bureau India’s overall auto exports fell 9.7% in the first quarter of the current fiscal due to a significant decline in demand in some of the country’s core automobile markets. The sales of three-wheeler segment witnessed the maximum decline, as it shrank by 46.22% to almost 66 thousand units compared to over 122 thousand units in the same period a year ago. The two-wheeler exports, too, contracted by 8.3% to over 577 thousand units during April-June 2016-17 from almost 623 thousand units in the same period a year ago. "The main reason for the decline has been that our main market Europe saw pressure and we are now moving to new markets like South Africa and Latin America," said Vishnu Mathur, Director ...
Addition of two new ports for import of new vehicles
Dated March 13, 2015 | Notification No.117 (RE-2013)/2009-2014 | S.O.(E) In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.3 and 2.1 of the Foreign Trade Policy, 2009-2014, as amended from time to time, the Central Government hereby amends the Import Policy Condition 2 to Chapter 87 of ITC(HS) 2012, Schedule 1 (Import Policy) as under: 2. Kattupalli Port and APM Terminals, Pipavav Port are added to the existing list of 12 ports / ICDs through which import of new vehicles is permitted under Policy Condition 2(II) (d) of Chapter 87 of ITC(HS) 2012, Schedule 1 (Import Policy). Accordingly, Policy Condition 2(II) (d) of Chapter 87 is revised to read as under: ...
