New Delhi, Nov 17
India’s GST 2.0 reforms, customs duty changes, and the India–Japan Free Trade Agreement (CEPA) are collectively reshaping the competitiveness and future trajectory of the country’s automotive industry, backed by $43.3 billion in cumulative Japanese investments, according to an industry report released on Monday.
The report by Grant Thornton Bharat and the Indo-Japan Chamber of Commerce and Industry (IJCCI), titled ‘Navigating change: GST 2.0, customs, and FTA impacts on the India–Japan auto sector,’ states that the rollout of GST 2.0 in September marked a pivotal shift for India’s automotive sector, streamlining tax structures, enhancing affordability, and catalysing consumer demand across vehicle segments.