India's Premier Lifestyle Destination For Men.

AUTO

The cut in customs duty on palladium is likely to benefit auto companies as it is widely used in automobiles exhaust systems as catalytic converters

taha poonawala I 2 november, 2020

Auto
Share
Highlight

The move is expected to assist petrol car makres since it is used in catalytic converteres in achieving cleaner emissions.

The cut in customs duty on palladium is likely to benefit auto companies as it is widely used in automobiles exhaust systems as catalytic converters. Nearly 80% of the metal finds use in the auto sector where it helps reduce harmful emissions in engines that use petroleum.

The FM has proposed a duty cut to 7.5% for certain industrial purposes , while the existing basic duty on palladium is 10% with a countervailing duty (CVD) of 12% and a special CVD of 4%. The move is expected to give a fillip to government efforts to encourage cleaner air.

ETAuto Connected Vehicle Summit

This has led to a growing demand for palladium has in the last few years. Its use in the auto sector has seen a growing trend along with lithium and cobalt used to make batteries for EVs.

”The move is expected to assist petrol car makres since it is used in catalytic converteres in achieving cleaner emissions. This will help auto manufacturers save on costs and improve their profitability,”

The FM has proposed a duty cut to 7.5% for certain industrial purposes , while the existing basic duty on palladium is 10% with a countervailing duty (CVD) of 12% and a special CVD of 4%. The move is expected to give a fillip to government efforts to encourage cleaner air.

This has led to a growing demand for palladium has in the last few years. Its use in the auto sector has seen a growing trend along with lithium and cobalt used to make batteries for EVs.

The cut in customs duty on palladium is likely to benefit auto companies as it is widely used in automobiles exhaust systems as catalytic converters. Nearly 80% of the metal finds use in the auto sector where it helps reduce harmful emissions in engines that use petroleum.

The FM has proposed a duty cut to 7.5% for certain industrial purposes , while the existing basic duty on palladium is 10% with a countervailing duty (CVD) of 12% and a special CVD of 4%. The move is expected to give a fillip to government efforts to encourage cleaner air.

The cut in customs duty on palladium is likely to benefit auto companies as it is widely used in automobiles exhaust systems as catalytic converters. Nearly 80% of the metal finds use in the auto sector where it helps reduce harmful emissions in engines that use petroleum.

The FM has proposed a duty cut to 7.5% for certain industrial purposes , while the existing basic duty on palladium is 10% with a countervailing duty (CVD) of 12% and a special CVD of 4%. The move is expected to give a fillip to government efforts to encourage cleaner air.

The cut in customs duty on palladium is likely to benefit auto companies as it is widely used in automobiles exhaust systems as catalytic converters. Nearly 80% of the metal finds use in the auto sector where it helps reduce harmful emissions in engines that use petroleum.

The FM has proposed a duty cut to 7.5% for certain industrial purposes , while the existing basic duty on palladium is 10% with a countervailing duty (CVD) of 12% and a special CVD of 4%. The move is expected to give a fillip to government efforts to encourage cleaner air.

Photo: © Instagram/thePOONAWALA (ALL ImageS)
MEET OUR CONTRIBUTOR

taha poonawala

VIEW ARTICLES BY TAHA
TAGS
SUPER CAR SUPER CAR SUPER CAR SUPER CAR SUPER CAR SUPER CAR
Copyright © 2022 Mammoth Media I All Rights Reserved