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Deadline On Steel Import Rules For Automakers Could Be Extended: Report


New Delhi: 

The government is considering extending by four months a compliance deadline on tougher import rules for steel that are aimed at forcing automakers to use locally made alloy, said two sources familiar with the matter.

Compliance to the new rules had been set for February 17, which was an extension of two months, but strict adherence to the regulations would have stalled production for India’s auto industry, a minister has warned.

The country’s auto manufacturing sector is dominated by Maruti Suzuki, Hyundai Motor, Honda Motor and Ford Motor.

Source: NDTV Profit