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GST cut on small cars, bikes: manufacturers ramp up
Big news for shoppers: Indian manufacturers are stepping up production of cars, bikes, and electronics after the recent GST cut to 18% on small cars and motorcycles under 350cc (effective since September 22).
This move is expected to finally shake up the small car market, which has been pretty quiet for the last five years—just in time for the festive season.
Major players like Maruti Suzuki, Hyundai, and Tata Motors
Major players like Maruti Suzuki, Hyundai, and Tata Motors are increasing output to meet what they expect will be a rush of buyers.
Electronics brands such as Haier Appliances India are also making more large-screen TVs as price differences shrink.
Maruti Suzuki's RC Bhargava sounds optimistic too—he expects small car sales to grow by 10% a year thanks to these tax cuts.