High import tariffs don't help countries become competitive

Lamborghini exec says customers and supply chain also feel the pinch

- DEEPAK PATEL

High import tariffs on automobiles do not help countries become competitive economies, Lamborghini Asia Pacific Regional Director Francesco Scardoani told Business Standard on Wednesday. He added that these have 'bad consequences' not just for the supply chain but also for the final consumers.

Lamborghini manufactures all its cars at its factory in Sant'Agata Bolognese, Italy. India levies an import duty of up to 110 per cent on completely built units (CBUs) of automobiles. As part of ongoing trade negotiations with the European Union (EU), India has reportedly offered to reduce the duty on CBUs to 10-20 per cent.