High Taxes Stall Indian Vessels | The Core Newsletter: Jan 15 edition
Taxation Hurdles Are Making Indian Ship Makers Register Abroad | By Zinal Dedhia
Unless the government steps in with tax relief and reforms, Indian shipping will continue to be outpaced by foreign competitors. There is growth potential—but only if the tax burden is lifted.
The industry and the government understand the tax burden challenge. But what is stopping the government from easing taxes?
CORE NUMBER
4.3 Million Units
This is the number of passenger vehicles (PVs), marking a record 4.2% sales growth in 2024, including cars, utility vehicles and vans. According to Business Standard, utility vehicle sales surged 17% to 2.7 million units, while passenger cars dropped 14.4% to 1.37 million units. December saw 10% PV growth due to discounts and inventory clearance. Strong consumer sentiment and a stable economy pushed overall growth, with record-high sales in passenger and three-wheelers. Q3 delivered the highest-ever sales for PVs, CVs, and three-wheelers, though two-wheeler sales slid 8.8% in December due to a 15% fall in motorcycles.
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