Afternoon D & C Dedicated To Mumbai
Home > Business > SIAM to hire consultant for study on export acceleration

SIAM to hire consultant for study on export acceleration

Friday, May 11, 2018

SIAM plans to rope in a consultant to conduct a study to find solutions for accelerating exports in the wake of decline in passenger vehicles shipments, a senior official of the auto industry body said yesterday.

The Society of Indian Automobile Manufacturers (SIAM) is also engaging with the  government in order to address issue related to GST refund as various exporting companies have been unable to claim input tax credit even after making payments upfront.

The pending sum has now crossed Rs 2,000 crore mark thus affecting the capability of various companies, especially the smaller ones, according to SIAM.

"We plan to do a study on export opportunities and for that we plan to appoint a consultant. It will take a holistic view on various issues relating to automobile exports," SIAM Deputy Director General Sugato Sen told reporters here.

The move is also aimed to ascertain reasons, specially for the decline in passenger vehicles exports, from the country, he added. Although two-wheeler exports from the country have been in the positive zone, passenger vehicle (PV) shipments have witnessed a decline over a period of time.

In 2017-18, PV exports declined for the first time in seven years with a dip of 1.51%. PV exports in 2017-18 were at 7,47,287 units as against 7,58,727 units in the previous year, according to the SIAM data.

In April also PV exports declined by 15.89% to 50,921 units as compared to 60,538 units in April 2017.

Sen said SIAM had also got a study done 3-4 years ago to suggest ways to improve automobile exports from the country. "At that time the consultant had stated that there needs to be a strategy regarding FTAs," he added.

No Comments Posted
City news
The Chief Minister Devendra Fadnavis’ security ha
A lady, who was scammed through Paytm, an ...
Dalit movement activist Vaibhav Chhaya has said t
I'm an 18yr old, the problem is that I just got o
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Select Sun sign:
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Today is a bright day, and the stars foretell success for you. If you find yourself in a creative mood, indulge in some activity that will satisfy the urge. But, Ganesha says, if you are driving alone, exercise a great deal of caution to be on the safe side.
- Advertising -
Trading in the stock market will continue to be g
Petrol and diesel prices were cut for the fourth
The Finance Ministry yesterday extended the deadl
Read More