Investment opportunities in India’s booming automobile and auto-components sectors have attracted around 100 Chinese firms to attend ‘Make in India’ seminars held in two key auto manufacturing hubs in China. The seminars were the part of a series of industry and sector specific ‘Make in India’ events to be organised across China this year, the Indian Embassy at Beijing said in a statement. “These seminars received an overwhelming response with nearly 180 representatives from around a hundred Chinese auto companies in Chongqing and Changchun attending the events,” the statement said. During the seminars, Counsellor (Economic) Prashant Lokhande noted the important role played by the auto sector in India and highlighted the potential for collaboration between Indian and Chinese companies in the sector, the statement said.
Vinnie Mehta, Director General of the Automotive Component Manufacturers Association of India (ACMA), gave a detailed presentation on the strengths of India in the automotive sector and the areas for future growth, it said.
Santosh Pai, Partner, Link Legal India Law Services gave a presentation introducing the legal and regulatory framework in India with a special focus on the Goods and Services Tax.
During the seminars, Chinese companies queried about the taxation structure in India and the incentives offered to Chinese investors in the country, the statement said.