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Dec 11, 2012
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India to take diplomatic route to resolve tiff over auto duty with Sri Lanka
India will take take up the matter of increased duty on automobile imports with Sri Lanka through diplomatic channels, an external affairs spokesman said. The nation's decision last month to hike duties across the board and impose additional levies on utility and commercial vehicles has hit Indian auto companies. Sri Lanka accounts for $800 million of India's total of $6 billion worth of auto exports. "We intend to take this up diplomatically. We have already taken it up in Colombo. Sri Lanka's finance secretary is visiting India soon and we will be taking it up then as well," external affairs ministry spokesperson Syed Akbaruddin said.
Source -
http://economictimes.indiatimes.com
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