SIAM to hire consultant to accelerate exports
New Delhi: SIAM plans to rope in a consultant to conduct a study to find solutions for accelerating exports in the wake of decline in passenger vehicles shipments, a senior official of the auto industry body said on Thursday.
The Society of Indian Automobile Manufacturers (SIAM) is also engaging with the government in order to address issue related to GST refund as various exporting companies have been unable to claim input tax credit even after making payments upfront.
The pending sum has now crossed Rs 2,000 crore mark thus affecting the capability of various companies, especially the smaller ones, according to SIAM.
"We plan to do a study on export opportunities and for that we plan to appoint a consultant. It will take a holistic view on various issues relating to automobile exports," SIAM Deputy Director General Sugato Sen told reporters here.
The move is also aimed to ascertain reasons, specially for the decline in passenger vehicles exports, from the country, he added. Sen said SIAM had also got a study done 3-4 years ago to suggest ways to improve automobile exports from the country. "At that time the consultant had stated that there needs to be a strategy regarding FTAs," he added.
Commenting on the GST input tax credit refund issue, Sen said there is 'huge' outstanding amount that is pending and is also hurting exports.
"We are talking to the government regarding this. Unless this issue is sorted exporters will continue to suffer," he added.