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Business News » Companies News

This is what is hurting BMW in India

BMW Group India president Vikram Pawah said that lower duties will reduce costs and increase demand as well as production, which could lead to greater indigenisation of auto products, talking to media on the sidelines of 11th anniversary of BMW’s commencement of manufacturing operations in India. He said India needs a clear roadmap to promote electric vehicles.

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This is what is hurting BMW in India
Former cricketer and BMW brand ambassador Sachin Tendulkar during his visit to a BMW plant in Tamil Nadu's Chengalpattu. Image source: IANS
Written By: ZeeBiz WebTeam
Updated: Fri, Mar 30, 2018
11:13 am
Chennai, ZeeBiz WebDesk
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The rise in customs duty on completely knocked down (CKD) imports of cars is hurting Make In India, BMW Group India president Vikram Pawah said on Thursday. Lower duties will reduce costs and increase demand as well as production, which could lead to greater indigenisation of auto products, he said on the sidelines of 11th anniversary of BMW’s commencement of manufacturing operations in India.

He said India needs a clear roadmap to promote electric vehicles.

Pawah said that as of now components equivalent to 50% of the cost of the product are procured locally, but equal parts need to be imported, and the rise in customs duty will adversely affect the costing and, in turn, demand. “When we started operations in Chennai in 2007, all the parts were imported. Now 50% of them are sourced locally. We need the demand in sufficient quantity to increase indigenisation,” he said.

Pawah said the country also needs a clear cut roadmap to encourage electric vehicles to reduce carbon emissions. He highlighted three requirements for it, including proper policy framework, setting up of charging infrastructure and long-term stability in objectives and policies.

“The customer needs to be assured about the product he buys. If he is even a little anxious, he will not buy,” he said.

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He advocated emission norms to be fuel-agnostic and if diesel engines meet the norms, they should be allowed.

Source: DNA Money

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TAGS:
BMWBMW IndiaAuto
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