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India’s engineering goods exports up 54% in 9M of 2021-22
Engineering goods sector - which constitutes the largest (more than 27%) share of India’s total exports basket - recorded exports of $ 81.8 billion during April-December 2021 as compared to $ 52.9 billion during the first nine months (9M) of 2019-20.Read more
Budget 2022 - ACMA: Ensure uniform 18% GST on all auto components
Automotive Component Manufacturers Association (ACMA) has recommended enhancement of RoDEPT rates and measures to encourage capital investment in auto component industryRead more
Govt extends PLI Scheme to 10 new sectors with incentives of Rs 1460 bn
10 sectors eligible for Production-Linked Incentive (PLI) Scheme are ACC batteries, electronics/technology products, automobiles & auto components, pharmaceutical drugs, telecom & networking products, textile products, food products, solar PV modules, ACs & LED, and speciality steelRead more
With Scrappage Policy auto industry can revive faster
The Covid 19 pandemic is having enormous effects globally. The global economy has been hit hard, even worse than the Great Depression in 1930. Read more
Italy’s UFI Filters opens automotive filters plant at NCR
Initial production will be to the tune of 6 million filters per year, including cabin filters and air filters for cars and heavy vehicles, as well as dedicated hydraulic filtration spares.Read more
Meritor and Automotive Axles open axle assembly facility for automotives
The new assembly facility expands Meritor India’s production capacity by 25%, equipping it to better serve customers in the commercial vehicle, off-highway and defense sectors.Read more
Jaya Hind Industries produces complex aluminium structural parts for automaker
Foray into large aluminium structural parts manufacturing will open up new opportunities for Jay Hind, a part of Dr Abhay Firodia Group, given the severe pressure on OEMs to reduce vehicle weightRead more
EV buyers to get benefit of additional IT deduction of Rs 1.5 lakh: Budget 2019-20
To further incentivise e-mobility, budget 2019-20 has exempted customs duty on certain auto components (parts) of electric vehiclesRead more
Budget announces changes in customs duty for some products
Import of defence equipment, currently not manufactured in India, are being exempted from the basic customs duty, said Finance Minister Nirmala SitharamanRead more
Lumax Cornaglia opens R&D centre in Pune for auto components
The targeted product line for the R&D centre is air intake systems, urea tanks, other automotive tanks, CAC ducts and other blow moulded parts.Read more
