Policies need to be consistent to attract more investment in India: Volkswagen
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The Germany based leading car maker Volkswagen has said that the Indian government needs to be more consistent in term of policies to attract more investment in the country. The car maker has said that it has lined-up a number of new car launches for the Indian market in the coming months including the iconic small car Volkswagen UP!
Speaking to the reporters in Wolfsburg (Germany), Mr. Christian Klingler, Volkswagen Group Vice-President (Sales and Marketing) said, "India is a very important market for us, but you need a stable economic and legal situation which is not always the case in India. This is one of the issues that need to be addressed in India."
Volkswagen India, which is a fully owned unit of this German auto giant, has been impacted by the Maharashtra state government’s change in the VAT refund policy. It is to be mentioned here that state government of Maharashtra had a policy of refunding VAT paid on all vehicles by the car makers who have manufacturing facilities in the state. The government however, modified the policy of VAT refund last year, stating that the government would only refund vat on those vehicles that are sold inside the state.
While further elaborating the company’s future plans in the state, Mr. Klingler said, "We are planning and are prepared to launch a number of projects in India, but in the current phase we are not willing to share and will announce soon".
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