Capability building for automobile dealerships

Many in the Micro, Small & Medium Enterprise (MSME) sectors have been enthused by steps such as an increase in customs duty on imported components from the existing maximum limit of 10 percent to 15 percent, and a drop to 25 percent on corporate tax for companies with a turnover of up to Rs 250 crore.

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The Indian automotive industry (including component manufacturing) is projected to get to US$ 251.4-282.8 billion by 2026. The 4th largest in the world, sales in the Indian auto industry increased 9.5 per cent year-on-year to 4.02 million units (excluding two wheelers) in 2017. Domestic automobile production saw an increase of 7.08 per cent CAGR between FY13-18 where 29.07 million vehicles were manufactured in the country in 2018. April-July 2018 witnessed a production increase of 16.69 per cent year-on-year to reach 10.88 million vehicle units…Read more

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