Contact Us Now
Union Budget 2018: Auto Component Sector To Benefit From Hike In Customs Duty

The hike in customs duty on select auto components in Union Budget 2018 is a strong positive for domestic auto component manufacturers and will promote made-in-India

The Union Budget 2018, announced by finance minister Arun Jaitley on 1 February, is going to benefit the Indian automotive components sector.

The government’s decision to hike customs duty on certain auto parts is going to promote Make in India initiative, thereby generating employment in the industry.

Subrata Ray, Senior Vice President and Group Head, Corporate ratings, ICRA said the impact of the Budget 2018 on the components sector will be positive.

Know More

Add Comment

Your email address will not be published. Required fields are marked *