Retail in Asia

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FICCI: Chinese imports of auto parts to India expected to reach USD6.85 billion

The share of auto parts imported into India from China is expected to increase 12-fold and reach USD6.85 billion (over INR30,000 crore, INR300 billion) by 2012-13, a Federation of Indian Chambers of Commerce and Industry report said. It continued that the share of imports would increase further on account of the reduction of customs duty on several auto parts under free trade pacts with the Association of Southeast Asian Nations and South Korea.