9911796707
TMI BlogMOUs between Govt. and Car ManufacturersX X X X Extracts X X X X X X X X Extracts X X X X ..... manufacturer companies under Memorandum of Understanding to be signed by them with the Government of India. These parameters have now been reviewed in the light of the changed circumstances and joint venture motor vehicle manufacturing companies (both existing and new) are required now to sign a fresh MOU with the Government of India as per the revised parameters. 2. Pursuant to the above, import of components for motor vehicle in ckd/ skd form, which is restricted for import under the current Export-Import Policy, shall be allowed for importation against a licence and such a licence will be issued only to joint venture automobile manufacturing companies on the basis of an MOU to be signed by these companies. Thus, all joint venture manu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m the third year of commencement of production. The date of commencement of production would be deemed to be the date of the first release of consignment from factory after payment of excise duty, but there would be a moratorium of two years from this particular date of commencement of production during which the firm need not fulfil any export commitment. However, from the third year onwards (effective from date of release of first consignment), the MOU signing firm would have an export obligation equivalent to the cif value of imports made by them till that time for the reminder of the MOU period till they complete the entire export obligation. From 4th year onwards the value of imports of CKD/SKD may be regulated with reference to the ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... )/92-97) MEMORANDUM OF UNDERSTANDING (MOU) I. This MOU has been made on _____________ day of 1997/1998 BETWEEN Government of India acting through the Director General of Foreign Trade (hereinafter referred to as the D.G.F.T.) Udyog Bhawan, New Delhi. AND M/s. ____________________________________________ (hereinafter referred to as the party which expression shall be deemed to include their executors, successors, administrator and assignee). II. Whereas the party has sought issue of an import licence to cover import of CKD/SKD parts for manufacture of cars. III. And whereas the party shall do the following by way of implementation of the Joint Venture: (i) That the party shall make an investment of As. in this joint venture with equ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same will allow a higher level of indigenisation. (v) that the party intends to import the following number of kits with CIF value as indicated in the first five years: Year No. of kits CIF Value (Rs. in crores (US $ in Millions)) (vi) that the party shall achieve a broad neutralisation of foreign exchange over the entire period of the MOU in terms of balancing between the actual CIF value of imports of CKD/SKD/components and the FOB value of export of cars and auto components over the said period. The period of export obligation would commence from the third year of commencement of production. The date of commencement of production would be deemed to be the date of the first release of consignment from factory after payment of excis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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