India and China get level-playing field in Sri Lanka’s two-wheeler market
View(s):The Sri Lankan Government has created a level-playing field in the country’s two wheeler market for China by removing the 7.5 per cent tariff concession given to Indian-made motor cycles and scooter imports under the Indo –Lanka free trade agreement, although the taxes have been
Nalin Welgama, Chairman, Ideal Group, tries out a ‘GUSTO’ scooter
reduced to 103.5 per cent from 108 per cent from the 2015 budget. Nalin Welgama, Chairman, Ideal Group made this observation when he addressed the launch ceremony of eagerly-awaited global scooter, the ‘GUSTO’ in Colombo on Friday. India and China are the major two wheeler exporters to Sri Lanka, he said adding that the government may have been taken this decision to facilitate the upcoming free trade agreement with China.
Mr. Welgama noted that his company partnered with a US$16.5 billion multinational group based in Mumbai, India, operating in over 100 countries to gain a major foothold in Sri Lanka’s two wheeler market.
“We are steadily improving the market share for Mahindra two wheelers in Sri Lanka. Gusto has been eagerly awaited in Sri Lanka and we are confident that our network of dealers present in 45 towns across Sri Lanka and our state-of-the-art showrooms and workshops will ensure the best after-sales support and spares availability.”, he said.
Sandeep Singh, Head, International Business, Mahindra Two wheelers said, “Sri Lanka is a key market in our Global business plans. Gusto with it’s height adjustable seat and Remote flip key would be Sri Lanka’s first and only scooter to have such features in the scooter category”.