Thursday, February 28, 2008

Tata Motors, Bajaj Auto and several major companies shifting their manufacturing out of Pune zone?

Moving to states where the tax structures are more favorable

These are the inferences drawn by the central excise tax collection in Pune zone after the contributions from industry giants like Tata Motors fell from Rs 990 crore in the financial year 2005-06 to Rs 700 crore in 2006-07 to Rs 600 crore in January in 2007-08.

Contributions from Bajaj Auto too have reduced, he said. In the last financial year the total contribution of Chakan and Akurdi units of Bajaj to excise duty was Rs 56 crore which has fallen significantly. By the end of this financial year only Rs 16 crore is likely to come, Sharma said.

Incidentally, Bajaj has stopped production from the Akurdi unit and shifted manufacturing to Uttaranchal.
- Sify.com

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