India plans incentives for auto companies to boost exports-sources – ZAWYA

India plans incentives for auto companies to boost exports-sources – ZAWYA

India plans incentives for auto companies to boost exports-sources | ZAWYA MENA Edition HomeBusinessArticleIndia plans incentives for auto companies to boost exports-sources Aim to double auto exports over 5 years - sources    An employee checks the adjustments of a side-view mirror of a vehicle at a factory of the Samvardhana Motherson Group, an auto components making company, in Noida May 5, 2011. Large local auto parts makers are forming joint ventures to boost their technological know-how and expand product range as the largely fragmented sector is at full capacity and facing a capital crunch. Picture taken May 5, 2011. NEW DELHI - India is drawing up an incentive scheme for the autos sector aimed at doubling exports of vehicles and components in the next five years, four sources with direct knowledge of the matter told Reuters.The Department of Heavy Industries (DHI) has sought feedback from auto industry groups on the initial proposal, which suggests giving incentives over five years to increase local production and procurement for export, the sources said.The incentives would be based on the sales value of vehicles or components and eligible companies would need to meet certain conditions, including a minimum revenue and profit threshold and