Indian vehicle imports curbed, as Chinese investors approved

by admin
Nov 16, 2012

High taxes on cars and trucks have been placed on imports from India, reports Sri Lanka's Sunday Times.

According to the customs official who spoke anonymously, the taxes would meanwhile be an advantage to Japanese car imports.

Speaking to the newspaper, the president of the Vehicle Importers’ Association of Lanka, Sampath Merenchige, said that the price of a Maruti or Alto would increase by a minimum of Rs 250,000.

Meanwhile, the Sri Lankan government has cleared two Chinese investments of US $20 million - a car-assembly plants in Hambantota and Gampaha.

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