India is Going to Reduce Tariff on Parts and Accessories

In order to become the second manufacturer in the world, India plans to reduce tariff on parts and accessories.

When we talk about the world manufacturer, we immediately think of China. However, in order to push the development of domestic manufacturing industry and enhance the international opposition of “made in India”, Indian government is going to launch a policy to reduce tariff on parts and accessories, and make India an international manufacturer just like China.

Besides, Indian government is considering reducing tax of small and medium-sized enterprises, which contribute to development of manufacturing industry. Source reveals that small and medium-sized enterprises share 40% of production capacity in Indian manufacturing industry, and achieve 8% of GDP, and offer the opportunities of employment of more than 0.1 million. Therefore, the development of small and medium-sized enterprises is very important to the position of “made in India”.

As the first world manufacturer, China is changing, from “made in china” to “create in China”. With the raising of labor cost in China, the products made in China are not cheap anymore. China has realized that we should develop emerging industry, improve the technical content of products, and enhance our own brands. Only in these ways, will we keep and higher our economic position in the world.