LauraJohn - China Automobile Expert-CNAUTO

Mumbai: JK Tire Industries is looking to revise its role structure in the upcoming budget, saying it will provide a level playing field for local tire manufacturers. “We are probably the only country in the world that has implemented a reverse tariff structure where the cost of importing raw materials is almost three times the cost of importing finished products.” “Under the current tariff regime, the tariff on imported raw materials (mainly rubber) is 20%, while the tariff on finished tires is only 7.7%. This situation has to change, said Arun K Bajoria, President and Director, JK Tyre Industries, here over the weekend, Finance Minister Arunn Jaitley He said, “We have decided to revise the reverse tariff regime in the budget.” Steps will be taken to rectify the situation. On another expectation from the budget, he expressed hope that the Finance Minister will ensure economic recovery. In order to protect the domestic rubber farmers, the g...

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JK Tyre seeks revision in inverted duty regime in Budget