Get All Access for $5/mo

Centre To Remove 252% Import Duties To Develop India a Testing Hub, Says Heavy Industries Minister Zero custom duty will be effective from April 1, 2023

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

The Centre has decided to remove 252% import duty on automobiles brought in for testing at its agencies such as International Centre for Automotive Technology and Automotive Research Association of India, with an aim to encourage foreign automakers to test their vehicles in India.

Mahendra Nath Pandey, minister of heavy industries, has reportedly said that no custom duty will put India in the global business of car testing. The move will attract automakers from more countries to avail of the testing facilities available in the country and also will support the development of a testing hub in India. Zero custom duty will be effective from April 1, 2023.

The minister was speaking at the inaugural ceremony of Conference & Exposition on MHI schemes for the promotion and development of the automotive industry in the country, at International Centre for Automotive Technology (ICAT), Manesar, Haryana. MoS Heavy Industries Krishan Pal Gujjar also participated in the event.

"Earlier Custom duty payable for import of vehicles was very high, which in turn makes the test agencies as non-competitive for global business and services but with zero custom duty India will become a global testing hub," said Pandey in a statement.

A car crash test demonstration was also done in the presence of the Minister. A car at a speed of 56 km per hour was crash tested successfully at the ICAT center. After the crash test, Pandey said that currently, they mostly test their vehicles in the UK, Japan, Korea, China and Taiwan, as per reports.

Krishan Pal Gujjar has emphasized the initiatives taken by the ministry to promote clean and green mobility. In a statement, the minister said that, "These initiatives will give a boost to domestic manufacturing, help in employment generation, reduce dependence on exports, promote growth and development of the industry, and thereby help in achieving the vision of Atmanirbhar Bharat in the automotive industry."

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Want to Start a Business? Skip the MBA, Says Bestselling Author

Entrepreneur Josh Kaufman says that the average person with an idea can go from working a job to earning $10,000 a month running their own business — no MBA required.

Leadership

Your Definition of Leadership Is Outdated — Here's How to Be a Better Leader in the Modern Workplace

In my nearly thirty years as a leader, I've focused on setting a clear vision and empowering my team to achieve our goals. We prioritize establishing shared objectives while allowing for flexibility when needed.

Starting a Business

They Showed Up to Apple With a Product They Built in Their Dorm Room. Now These Entrepreneurs Are on the Way to Changing the Way Fans Watch Sports.

How Rahat Kulshreshtha and Gaurav Mehta launched Quidich Innovation Labs, technology that is literally changing the game of sports viewership.

Business News

How Nvidia CEO Jensen Huang Transformed a Graphics Card Company Into an AI Giant: 'One of the Most Remarkable Business Pivots in History'

Here's how Nvidia pivoted its business to explore an emerging technology a decade in advance.

Thought Leaders

25 Common Characteristics of Successful Entrepreneurs

Do you have what it takes to get through hard times? Here are the traits that help home-based business owners thrive.

Leadership

Why Hearing a 'No' is the Best 'Yes' for an Entrepreneur

Throughout the years, I have discovered that rejection is an inevitable part of entrepreneurship, and learning to embrace it is crucial for achieving success.