3 hours ago
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NEW DELHI: India's car constituent manufacture is acceptable for a important boost pursuing the India-US commercialized deal, with the statement providing preferential tariff attraction for Indian car parts exports, including zero-duty entree for immoderate products. The associated connection said India volition person a preferential tariff complaint quota for automotive parts presently covered nether US nationalist information tariffs, creating a pathway for Indian exporters to entree the US marketplace astatine little oregon zero duties. They had antecedently been affected owed to steep tariffs with definite car components facing duties up to 50%. Vikrampati Singhania, president of the Automotive Component Manufacturers Association (ACMA), said the determination signals a wide intent to fortify bilateral manufacturing and proviso chains.
"These measures volition pb to enhanced export competitiveness, deepen exertion collaboration, and reenforce India's relation arsenic a trusted spouse successful resilient planetary automotive proviso chains." Auto constituent shaper Uno Minda said the statement opens a caller signifier of export-led maturation for the sector. "For Uno Minda, this opens up compelling opportunities to further standard our footprint, fortify supply-chain agility and grow our publication to the US marketplace portion proudly reinforcing India's presumption arsenic a world-class manufacturing hub," said Ravi Mehra, MD astatine Uno Minda.
Tenneco India said the simplification successful US tariffs volition importantly amended the outgo competitiveness of India-made components. "This volition importantly heighten the outgo competitiveness of our premium products similar daze absorbers and exhaust systems successful the US market, positioning america to turn our presence, standard volumes, and fortify integration wrong the proviso networks of American OEMs," said Arvind Chandra, whole-time manager and CEO, Tenneco India. Bharat Forge described the woody arsenic a "game changer" for Indian industry, adding that it strengthens India's presumption successful planetary proviso chains. In 2024-25, exports to the US were to the tune of $6.2 billion, portion successful the archetypal fractional of this year, it has reached $3.1 billion, according to ACMA.
