DAEWOO, HONDA, HM BENEFIT AS INDIA GOVERNMENT REMOVES EXPORT OBLIGATION

Info-Prod Research (Middle East), August, 2002 by Info-Prod Strategic Business Information

Daewoo Motors, Honda Siel Cars and Hindustan Motors will benefit from the recent liberalization of export commitments by the government even as automakers like General Motors, Ford and DaimlerChrysler said they have already fulfilled their export obligations.According to PTI, company officials said that the troubled subsidiary of South Korea's Daewoo Motor had export obligations totaling Rs 995 crore (US$205.02 million) for import of completely knocked down (CKD) kits of Matiz and Cielo cars.

The government liberalized last week the imports of CKD or semi-knocked down (SKD) kits by withdrawing the export obligation against imports of such kits for those joint venture automakers, which had signed a specific MoU in 1997. - (EMEconomy.com)