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Transport Ministry of India is set to change the vehicle import norms for automobile manufacturers in the country. According to TOI, automobile brands will soon be able to import any vehicle manufactured outside India, irrespective of their engine capacity or pricing.
However, these new norms do come with certain conditions. These conditions allow each manufacturer to import just 2,500 units annually. This is for both cars and two-wheelers which comply with all internationally accepted standards.
The companies can also further import another 500 units of commercial vehicles such as buses and trucks. However, all imported vehicles will have to come with ‘right-hand drive steering control'.
Currently, the norms set by DGFT (Director General of Foreign Trade) allows homologation-free imports of cars worth $40,000 USD or above (equivalent to roughly Rs 28 lakh).
While for two-wheelers, any vehicle from 800cc and above will also come under the homologation-free imports. Although, import duty and other taxes will still be applicable to all vehicles.
According to DGFT, all vehicles which comply with the international testing standards of Europe, Japan and certain other countries, can now be imported and registered in the country.
An official from the transport ministry stated, "The DGFT norm is based on the Central Motor Vehicles Rules so far as registration without local testing is concerned. So, the change in the rules will pave the way for liberal import norms."
This new norm will allow manufacturers to import more electric vehicles in India for testing. While also allowing companies to introduce EV manufacturing in the country. The new norms will also see various car manufacturers to launch new products in India.
An official from a major automotive brand, stated, "We are not even allowed to import vehicles for research and testing in India if the present norms are not met. The new decision will come as a big boost for the automobile industry."
Thoughts On The Import Of Foreign Vehicles
With the current import norms in the country, major automobile manufacturers are not able to bring their vehicles even for research and testing. The new norm once implemented will allow for a more liberal import of foreign vehicles. Further allowing automakers to introduce new products in the Indian market.