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  • Asked Finance Ministry to give time to auto companies on new CKD duty: Patel

    Published on May 11, 2011

    Heavy Industries and Public Enterprises Minister Praful Patel today said his ministry has asked the Finance Ministry to give two years’ time to the auto industry to comply with the new import duty norms for completely knocked down (CKD) units. Talking to newspersons on the sidelines of a function in New Delhi today he said Finance Minister had redefined the meaning of CKD units to encourage local production of automobiles. He said that Indian Automobile Manufacturers have been pressing for either reducing the duty or give them more time to prepare for more localisation of such equipment. Mr. Patel said the move is aimed at encouraging indigenisation.

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