In the last financial year, the export of auto elements of India was $ 6.6 billion in the United States, out of which Billion. Billion was a billion dollar component for cars and small trucks, and now they are at a rate of 5 per cent. Another $ 3 billion is about $ 3 billion, of the components of commercial vehicles, off-road vehicles, tractors and construction equipment, now 50 percent, said Winnie Mehta, director general of the Automotive Component Manufacturers Association of India (ACMA).
Asked as the Chairman of the ACMA, the ACMA president, who served as the Chairman of the ACMA, has a large alternative market for consumers in the risk of risk. Industries are being created in this industry. “It’s being created in this industry.” The manufacturers of this industry are ready.
Singhania, Jake Phenor (India) Limited, Managing Director JK Phenor (India) Limited, is the emphasis on increasing the prices of domestic companies.
“You should not look at 5 per cent of CE as 5 Cents. We should see that the other countries are at 5 per cent or 5 per cent or at a lower rate. This is the real point to think about it because we are 9.1 per cent and we are now 5 per cent, because other countries are fighting in world landscape.” Indian companies are working and watching alternative markets as part of the strategy and agenda, Singhania said. ACMA President Shraddha Suri Marwa also reiterated that this Billion. Billion is a dollar of billions of dollars that have really been affected by Center at the moment.
Asked if consumers in the United States have kept the purchase back from the Indian factors, she said, “There has been something stop there. I say … Is it not so easy? It is not so easy, because these are long -term events.
Mehta said, “In the first quarter – April, May, June, our export and import statistics made $ 1.77 billion from what we did in the last financial year … did not have any effect.”
Saying that negotiations are going on on a professional basis, Marugha said, “I think everyone is waiting and watching, because no one really knows what will happen tomorrow. Here we are standing here right now.”
Singhania said, “This is a transitional phase and I think both of our countries have a good relationship … this is not the end. This is the beginning of many conversations so that we both want ourselves.”
Mehta on India’s proposed FTA with the European Union said, “This is very important for us because the European Union has the same market for the United States.
The trade with the European Union is very balanced, India has exported $ 6.7 billion vehicle components to the European Union and imported about $ 7.7 billion vehicle components.
“There is one to give and happens there. Therefore, it is meaningful to reduce trade barriers. Besides, the European Union also has a huge treasure of technology. We would love to invest in the country from Europe,” said Mehta.
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