SIAM Seeks 40% Import Duty on Tractors to Curb Chinese Dumping
L'essentiel
- The Society of Indian Automobile Manufacturers (SIAM) has urged the Indian government to increase import duties on commercial tractors and prime movers to 40%.
- SIAM claims current low duties allow cheaper imports from China, threatening domestic manufacturers' investments in new technologies and EV tractors.
Résumé généré par IA
Pourquoi c'est important
The Society of Indian Automobile Manufacturers (SIAM) is advocating for increased import duties on commercial tractors and prime movers to protect domestic production from cheaper imports, particularly from China.
The Society of Indian Automobile Manufacturers (SIAM) has written to the government requesting seeking an increase in import duties on commercial tractors and prime movers used for logistics and goods movement to 40% to prevent dumping from China.
“The current rate of 10% BCD on import of EV and ICE (internal combustion engine) tractors/prime movers under above the said tariff code (87012400 & 87012100) is allowing the foreign OEMs/brands to import a CBU (completely built-up unit) without any depth of operation in India at cheaper cost and penetrate the Indian market”, SIAM said in its letter to the ministry of heavy industries (MHI).
The letter added that since Indian tractor makers are investing heavily to manufacture these EV tractors and prime movers, cheap imports of completely built units by foreign companies “without any substantial investment is posing a threat to business case for domestic EV makers.”
SIAM held the import-friendly rate of 10% is incentivising foreign commercial vehicle makers to “dump their products” in India.
Accordingly, SIAM urged the government to have a uniform import duty of 40% (Basic customs duty and Agriculture, Infrastructure and Development cess) for CBUs of commercial vehicles to protect and encourage domestic manufacturers to continue their investments in this segment.
Questions ouvertes
- Will the government approve the duty hike?
- What is the exact volume of Chinese tractor imports?