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SkodaAuto plans to set up R&D centers in India
By siliconindia staff writer
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Wednesday, 14 July 2004, 19:30 IST
MUMBAI: Automobile major SkodaAuto India Pvt Ltd (SAIPL) is planning to set up research and development (R&D) units in the country, inspired by the 150 per cent deduction on in-house R&D announced in the Union Budget.
"The deduction will benefit companies who have plans to increase R&D budgets and activities in India and would enable more foreign players to enter the country's market," a SAIPL release said on Tuesday, quoting its managing director Imran Hassen.
The entry of foreign players would result in an expansion of automobile industry, apart from offering a wider choice of products and services to the customer, it said.
Hailing the deduction, he said, "It is a step in the right direction."
However, he did not specify on the number of centres, nor the amount that would be invested in the country.
On plans to increase the company's product prices, he said the cost impact of the Budget is being analysed and added that the company was "still considering whether to increase the prices".