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Cut import duties on automobiles: Tata

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At a time when the Indian automobile industry is strongly opposing lowering of import duty in the proposed India-EU FTA, Tata group chief Ratan Tata has favoured cutting tariff on vehicles and components coming from overseas.

In an interview to the market research firm JD Power, Tata said such high import duties are unrealistic and create an artificial barrier of protection for local companies.

He also said India does "not have an automobile industry" as "we have assemblers of foreign brands" and only Mahindra & Mahindra and Tata Motors actually develop and manufacture products in the country.

"...I also think that the very high rates of import duty should be reduced. They're unrealistic and create an artificial barrier to protect the manufacturers in India," Tata said.

(PTI)