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Rediff News  All News  » Business » Carmakers want 2-yr notice before policy change

Carmakers want 2-yr notice before policy change

January 30, 2007 09:00 IST

International automakers have supported the Hyundai Motor's demand for a two-year notice period before any changes are made by the Indian government with regard to excise or custom duties for the auto sector.

Managing director & CEO of Hyundai Motor India Ltd H S Lheem, after meeting Prime Minister Manmohan Singh, said, "There have been too frequent changes in the policies with regard to the automobile sector, which creates insecurity in the market. We have asked the government to stick to a consistent policy, or if any changes are made, give at least a period of two years to adapt to any of these changes."

Hyundai's views are supported by other international carmakers. Masahiro Takedagawa, head, Honda Siel Car India, said, "We are also concerned about any possible changes in the policy. We are planning to build a small car. Any changes in the classification of small car could hamper or delay our plans."
Chanchal Pal Chauhan in New Delhi