After a pocket-burning and seemingly never-ending rise in fuel prices, there comes a news that would give the Indian four-wheeler market some relief.
Come January 2013 and some critical components imported from the ASEAN would become cheaper as the import tariffs are due to be halved (from existing the 10 per cent to five per cent).
The key beneficiaries of this tariff relief would be the leadinr car-makers like Toyota, Honda, Ford and Nissan. The cost of components like brakes, gears, air-bags, fuel tanks, suspension systems, steering systems and seat-belts will be reduced once the lower tariff comes into force. The tax would finally be eliminated when total exemptions under the Indo-Asean Free Trade Agreement (FTA) for these critical parts take effect in December 2013.
This would certainly afford some relief to car-makers battling to keep their cars at low costs.
