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Nepal Opens Its Market To Indian Car Manufacturers
By KTM Metro Reporter
December 9, 2011: Nepal has opened its car market to Indian car manufacturers based on their self certification after India complained to Nepal that it permitted all countries other than India to sell vehicles through self certified `type approvals' or TAs, which was a confirmation of procedure commitment given by the manufacturer, ‘The Economic Times’ of India writes on December 8, 2011.
India has waived a special additional duty of 4% on all imports from Nepal following the request from the Nepalese government to make Nepal’s products competitive in the Indian market. Nepal enjoys zero basic custom duty under the Indo-Nepal treaty of trade.
Nepal has a huge trade imbalance with India. Nepalese export to India has been of $500 million, whereas import from India has been of $2.2 billion.
