India's Automotive Industry Hit by Regulatory Burden and High Taxes, Hindering Car Affordability

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Regulatory burden and high taxes restrict car affordability in India Maruti Suzuki's chairman, RC Bhargava, highlights the impact of government policies.

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Car-industry growth has slowed to 3% due to poor government policies and High taxes on cars in India.

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Income disparity and low car ownership in India India's per capita income is significantly lower than China and the US,

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GST of 28% applies to most new cars, with additional cess ranging from 1-22% and Customs duty of 60-100% on imported cars.

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Regulatory burden affecting small cars the most Changing market behavior due to the higher burden on small cars.

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Elon Musk and Toyota have previously criticized Indian duties due Higher taxes on cars hinder growth and import opportunities.

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