Assocham Warns Against EU Auto Component Tariff Cuts
Assocham EU Trade Pact
Industry body Assocham has raised concerns about proposed blanket duty cuts on automotive components in the upcoming EU trade pact. The organization warns that such tariff reductions could undermine the localization gains achieved under 's Production Linked Incentive (PLI) program for the automotive sector. The PLI scheme has encouraged domestic manufacturing of auto components, and industry experts fear that unrestricted imports from the EU could erode these advances. Assocham is advocating for a more nuanced approach that would protect the interests of domestic manufacturers while still facilitating beneficial trade relations with European automotive suppliers.
What is Assocham's concern regarding the proposed EU trade pact?
Assocham is concerned that blanket duty cuts on automotive components in the proposed EU trade pact could erode the localization gains achieved under 's auto PLI program.
What could be the impact of these tariff cuts?
The tariff cuts could undermine domestic manufacturing of auto components in India and affect the progress made through the PLI scheme.
What approach is Assocham advocating for?
Assocham is advocating for a more nuanced approach that would protect domestic manufacturers while still facilitating beneficial trade relations with EU suppliers.
Location: Raipur - C.G.
Category: Automotive
