Auto exports dip 3 pc in Apr-Dec

Jan 10 2013, 03:54 IST
Comments 0
SummaryDuring April-December 2011, the country had exported 22,52,688 units.

India's automobile exports fell by 2.92 per cent year-on-year at 21,86,834 units during April-December 2012 due to demand slowdown in global markets.

During April-December 2011, the country had exported 22,52,688 units.

While releasing the figures today, Society of Indian Automobile Manufacturers (SIAM) President S Sandilya said reduction of drawback rates and withdrawal of Duty Entitlement Pass Book (DEPB) scheme impacted shipments.

The government "has reduced the drawback rates for commercial vehicles (CVs), two and three wheelers from 5.5 per cent to 2 per cent in October 2012. This had negative impact on exports especially of CVs and two wheelers," he said.

The 14-year-old DEPB, the popular tax refund scheme for exporters, ended in September 2011.

He asked the government to take steps like restoration of duty drawback to boost the exports.

Besides, he also asked for a cut in the interest rates to boost the manufacturing sector which in turn will help auto exports.

Exports of CVs, three wheelers and two wheelers fell by 4.76 per cent, 20.88 per cent and 2.79 per cent respectively during the nine months of the current fiscal.

However, in December 2012, shipments of passenger vehicles, two and three wheelers segment grew by 31.59 per cent, 9.36 per cent and 4.63 per cent, respectively, while CVs shipment declined by 25.79 per cent, SIAM said.

Ads by Google

More from Business

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...