The EXIM policy reviewed concerns the import and export of automobiles into India. It outlines several strict conditions for importing vehicles, including heavy customs duties, a ban on vehicles manufactured or previously sold in India, and requirements that vehicles comply with Indian traffic rules. The policy only allows imports through three ports and requires testing by authorized agencies after arrival. It bans imports of certain vehicles based on engine size and type. There are also specific policies for NRIs importing a personal vehicle when relocating to India.
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The EXIM policy reviewed concerns the import and export of automobiles into India. It outlines several strict conditions for importing vehicles, including heavy customs duties, a ban on vehicles manufactured or previously sold in India, and requirements that vehicles comply with Indian traffic rules. The policy only allows imports through three ports and requires testing by authorized agencies after arrival. It bans imports of certain vehicles based on engine size and type. There are also specific policies for NRIs importing a personal vehicle when relocating to India.
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This is a review of the EXIM policies of auto industries in India.
The EXIM policy reviewed concerns the import and export of automobiles into India. It outlines several strict conditions for importing vehicles, including heavy customs duties, a ban on vehicles manufactured or previously sold in India, and requirements that vehicles comply with Indian traffic rules. The policy only allows imports through three ports and requires testing by authorized agencies after arrival. It bans imports of certain vehicles based on engine size and type. There are also specific policies for NRIs importing a personal vehicle when relocating to India.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online from Scribd
The EXIM policy reviewed concerns the import and export of automobiles into India. It outlines several strict conditions for importing vehicles, including heavy customs duties, a ban on vehicles manufactured or previously sold in India, and requirements that vehicles comply with Indian traffic rules. The policy only allows imports through three ports and requires testing by authorized agencies after arrival. It bans imports of certain vehicles based on engine size and type. There are also specific policies for NRIs importing a personal vehicle when relocating to India.
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EXIM Policy Review
The Export-Import or the EXIM Policy of India are the various sets of guidelines and instructions established by the Government of India regarding the foreign trade, i.e., import and export and policies related to them. These policies are amended once in every five years. The current EXIM Policy of India covers the period of 2009 to 2014. The EXIM policy Ive reviewed is on the export and import of Automobiles, i.e., the automobile sector. The Indian Government is somewhat strict with its EXIM Policies when it comes to import of vehicles into the country. There are heavy custom duties on import of automobiles. Apart from heavy duties, the EXIM Policy also says that the vehicle that is being imported should not be manufactured or assembled in India. It should not also have sold, leased, loaned or registered for any use in any country before being imported to India. Moreover, the vehicle being imported to India should also be imported only from the country where it is manufactured and also comply with the Central Motor Vehicles Rules, 1989. There are various other conditions that must be followed for the import of vehicles into India. Giving examples of some conditions, the new vehicle should have a speedometer indicating the speed in km/hour, the steering should be in the right side with all the controls, have photometry of the headlamps keeping in mind the keep left traffic rule followed in our country, etc. The import is also permitted only through customs port at Mumbai, Kolkata and Chennai. After the import, the vehicle is also needed to be submitted for various testing to any notified testing agency authorized by the Indian Government such as VRDE, Ahmednagar, Machinery Training and Testing Institute, Budni, etc. The policy also bans imports of some cars. Cars with engine capacity ranging from 1000 to 2500cc are also banned from importing. Scooters of over 50cc up to 500cc can be imported. Motorcycles of over 800cc are also banned.
There are also policies regarding to import of cars under transfer of residence. NRIs or foreigners coming to India on a transfer basis are allowed to import one car, old or new. One thing to be kept in mind, though, is that the vehicle should be imported within 6 months of the arrival of the individual. The vehicle also cannot be sold within 2 years of import. There are many more complications and regulations in the policy regarding to import of automobiles. The government is really strict on import of cars to India from overseas. Whereas export is lenient and there are not many regulations. This is what I understood from the EXIM policy. Thank You. Nayan Bhalotia(1211352)
