Car Testing in India: In the budget speech, Finance Minister Nirmala Sitharaman has announced to waive custom duty on cars coming to India for car testing. With this decision, India will move towards becoming a global hub of car testing business.
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Custom Duty Exempted in Budget: Union Heavy Industry Minister Mahendra Nath Pandey said that the Central Government hasCar Crash Test) has removed the custom duty on vehicles imported for The minister said that 252 percent custom duty on imported vehicles for testing has been removed. With this step, the country will become a global hub by moving forward in the global business of car testing. Union Finance Minister Nirmala Sitharaman Budget2023 Announced zero custom duty in the speech, which will be applicable from 1 April 2023.
Earlier, if any foreign car manufacturer brought its vehicle to India for safety testing of international standards, then a custom duty of 252 per cent was levied. However, in the Union Budget 2023, Finance Minister Nirmala Sitharaman has reduced this custom duty to zero. It has been claimed in the report of ANI that with this India will give good competition in the car safety testing business.
effect of higher custom duty
The Heavy Industry Minister said that the earlier custom duty on imported vehicles was very high. This was an order of 252 per cent of the declared value of the vehicles which includes basic import duty, freight and insurance charges. Such a heavy custom duty makes testing agencies out of competition in global business and service, which has an impact on the car testing business of the country.
India is the sixth country in the world in car testing
Union Minister Pandey further said that only five countries have car safety test facilities of international standard. There are two testing facilities in the United Kingdom. At the same time, Germany, Japan, China and Taiwan are also among the five countries where car testing facilities are available. Now India has become the sixth country in the world to have Global Car Testing Center.
The interest of these countries in car testing
Union Minister Pandey further said that only five countries have car safety test facilities of international standard. There are two testing facilities in the United Kingdom. At the same time, Germany, Japan, China and Taiwan are also among the five countries where car testing facilities are available. Now India has become the sixth country in the world to have Global Car Testing Center.
Source: www.tv9hindi.com”