automobile sector review 2020
TRANSCRIPT
1
LawDocs
Get In Black
Automobile Sector
REVIEW 2020
2
#Get
In B
lack
3
FOREWARD
I am pleased to present the Automobile Policy Review. It comprises diverse points of view
across different industry sectors, this report provides a perspective of the economy in this
sector in India. Through this report, we aim to highlight the upcoming events and possibil-
ities with the objective of doing business in India.
I hope that this report will help business leaders navigate the increasing complexity
around value delivery in today’s environment. I would like to express my sincere gratitude
to all the participants of the survey.
I hope you find the report useful and insightful.
Best regards,
Priyanka Prajapati
CEO, LawDocs.
4
INDEX
SUMMARY . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
MARKET OVERVIEW. . . . . . . . . . . . . . . . . . . . . . 6
STRATEGIES ADOPTED . . . . . . . . . . . . . . . . . . . . 7
RECENT TRENDS. . . . . . . . . . . . . . . . . . . . . . . . . .8
INVESTMENT/OPPORTUNITIES. . . . . . . . . . . . . . 9
REASONS TO INVEST . . . . . . . . . . . . . . . . . . . . . 10
GROWTH DRIVERS . . . . . . . . . . . . . . . . . . . . . . . 11
SECTOR POLICY . . . . . . . . . . . . . . . . . . . . . . . . . . 12
FINANCIAL SUPPORT . . . . . . . . . . . . . . . . . . . . . . 14
FOREIGN INVESTORS . . . . . . . . . . . . . . . . . . . . . . 16
5
SUMMARY
• The Automobile industry in India is a significant driver of mac-
roeconomic growth and technological development.
• The Automobile industry manufactured 14.7 mn vehicles in-
cluding commercial vehicles, passenger vehicles, three-wheelers
and two-wheelers during April – September .
• Indian automotive industry (including component manufactur-
ing) is expected to reach Rs 16.16-18.18 trillion by 2026.
• 7th largest manufacturer of commercial vehicles.
• The only country among top seven car markets globally to
achieve double digit growth rate of 11 %
• The Automobile industry holds a 7.5% share in India’s GDP.
• India has 4 large auto manufacturing hubs: Delhi, Farida-
bad ,Gurgaon in the North, Mumbai--Nashik ,Pune ,Aurangabad
in the West, Chennai- Bengaluru,Hosur in the South and Jam-
shedpur-Kolkata in the East.
• By 2020, more than 6 mn hybrid and electric vehicles are ex-
pected to be sold annually.
• India is projected to be the world's third-largest automotive
market in terms of volume by 2026.
• As per FY 2018-19, India has manufactured 25 mn vehicles out
of which 3.5 mn have been exported.
• In the Automobile industry in India, the FDI equity inflows re-
ceived during April 2000 – September 2018 is valued at US$
20.36 bn.
• Two-wheeler production estimated to grow at 16 per cent
CAGR between FY17-20.
• Domestic sales of passenger vehicles expected to increase at a
CAGR of 12.87 per cent between 2017-26.
• Automobile exports to grow at a CAGR of 3.05 per cent during
2016-2026.
6
MARKET OVERVIEW
Before 1982
• Closed market
• 5 players
• Long waiting periods & outdated models
• Seller’s market
1983-1992
• Indian government and Suzuki formed Maruti Udyog and commenced production in 1983 .
• Component manufacturers entered the market via JV .
• Buyer’s market.
1992-2007
• Sector de-licensed in 1993.
• Major Original Equipment Manufacturers started assembly operations in India.
• Imports permitted from April 2001 .
• Introduction of value- added tax in 2005.
2008 onwards
• More than 35 market players
• GST to support lower raw material cost
• Launch of Automotive Mission Plan 2016-26 in 2015
7
RECENT STRATEGIES ADOPTED BY COMPANIES IN INDIAN AUTOMOBILES
SECTOR:
Catering Indian needs
• Most of the firms including Volkswagen & Ford have adapted themselves to cater to the large Indi-
an middle class by dropping their traditional structure .
• This allows them to compete directly with domestic firms making the sector highly competitive.
Capacity Addition
• Considering low cost of production, prominent auto companies are increasing their production
capacity.
• With the total investment of around US$ 163.7 million, Honda Scooter & Motorcycle India ex-
panded its production of Activa in three variants at Ahmedabad plant.
• Most of the automobile companies are eyeing India as an outsourcing hub.
• A new engine assembly line is being set up by the Volkswagen group in Aurangabad.
• Volvo has started local assembly of its cars in India from October 2017.
Launch of new models
• Honda is planning to launch three new car models in India by 2020 and will localise the engines to
keep the prices low.
• In March 2017, Tata Motors’ new sports car was unveiled, under its new sub brand – TAMO, at
the Geneva International Motor Show. show will displayed niche segment models with advanced
technologies
• Fiat Chrysler Automobiles India, launched its new Jeep brand Compass in Feb 2017, which is going
to be produced indigenously in Ranjangaon,Maharashtra. India will be the 4th manufacturing hub,
globally, for the brand.
• In May 2017, Pune based Kinetic Green Energy and Power Solutions Ltd. has launched its 1st elec-
tric three- wheeler “Kinetic Safar”, This three wheeler is equipped with an advanced lithium-ion
battery.
8
RECENT TRENDS
Luxury Cars-
• The luxury car segment has been seeing high growth rates and expanded at 37 % CAGR
between FY07-15. Sale of luxury cars stood at 33,279 units in 2016. luxury car market in In-
dia is expected to grow at 25 % CAGR till 2020. BMW and Mercedes- Benz India Group India
recorded their highest ever annual sales in 2017 at 15,330 units and 9,800 units respectively.
• With 12th largest population of high net worth individuals , India still has huge room for
this segment.
Electric Cars
• The Indian government has shifted its focus on electric cars in order to meet the reduction
targets. It has aims to sell only electric cars by 2030 under the National Electric Mobility Mis-
sion Plan which was launched in 2013.
• Suzuki Motors is setting up a new plant in Gujarat to manufacture lithium ion batteries.
• Mahindra has launched its new electric car and Tesla motors is also set to enter the Indian
market.
New Financing Options
• Carmakers such as BMW, Audi, Volkswagen, Mercedes-Benz, Skoda, & Toyota have started
providing customised finance to customers through NBFCs
• Indian corporate houses& Major MNC are moving towards taking cars on operating lease
instead of buying them.
New Product Launches
• Ashok Leyland is planning to launch couple of light commercial vehicle variants, in every
quarter of FY18.
• SAIC motors is planning to enter the Indian market, the first Chinese automotive company
to do so
• In March 2017, Maruti Suzuki launched Baleno RS, a high performance hatchback car in
the hatchback.
9
INVESTMENT
• Ashok Leyland has planned a capital expenditure of Rs 1,000 crore to launch 20-25 new models
across various commercial vehicle categories in 2018-19.
• Mercedes Benz has increased the manufacturing capacity of its Chakan Plant to 20,000 units
per year, highest for any luxury car manufacturing in India.
• Hyundai is planning to invest US$ 1 billion in India by 2020. SAIC Motor has also announced to
invest US$ 310 million in India.
• In November 2018, Mahindra Electric Mobility opened its electric technology manufacturing
hub in Bangalore with an investment of Rs 100 crore which will increase its annual manufacturing
capacity to 25,000 units.
• As of October 2018, Honda Motors Company is planning to set up its third factory in India for
launching hybrid and electric vehicles with the cost of Rs 9,200 crore ,largest investment in India
so far.
OPPORTUNITIES
India is fast emerging as a global R&D hub
• Strong support from the government; setting up of NATRIP centres.
• Strong education base, large skilled English-speaking manpower
• Private players, such as Hyundai, Suzuki, GM, keen to set up R&D base in India. .
• Comparative advantage in terms of cost.
• Firms both national and foreign are increasing their footprints with over 1,165 R&D centres.
Small-car manufacturing hub
• General Motors, Nissan & Toyota announced plans to make India their global hub for small
cars.
• Passenger vehicle market is expected to touch 10 million units by 2020. Strong export potential
in ultra low-cost cars segment .
• Maruti Suzuki launched facelift version of Alto 800, after the success of earlier model.
Opportunities for creating sizeable market segments through innovations
• Mahindra & Mahindra targeting on implementing digital technology in the business.
• Hero Honda, Bajaj Auto, & M&M plan to jointly develop a technology for two wheelers to run
on natural gas.
• By 2018, Hyundai is planning to enter the hybrid vehicles segment, to explore alternative fuel
technology & to avail the government incentives.
• Tata Motors to launch MiniCAT, a car running on compressed air,
10
REASONS TO INVEST
• India will emerge as the third-largest Automotive market in the world in terms of volume by 2026, fol-
lowed by China and USA.
• As per the AMP 2026, the Automobile sector has a target to triple the revenues to US$ 300 bn and in-
crease exports sevenfold to US$ 80 bn.
• The Automotive Mission Plan 2016-26 aims to drive the Automobile industry to be the engine of the
“Make in India” programme & developing India as a global manufacturing center.
• The World Economic Forum positions India 30th on the global manufacturing index.
• The rural agricultural industry is experiencing a rise in their disposable incomes, which further boosts
the overall economy.
• India’s Make in India initiative has played a vital role in elevating the country’s position.
• Faster Adoption and Manufacturing of Hybrid & Electric Vehicles and National Electric Mobility Mission
Plan have been initiated with an aim to support hybrid and electric vehicles market development and eco-
system.
• Private players like Hyundai, Suzuki, General Motors are interested in setting up an R&D base in India.
• The International Centre for Automotive Technology is a top-class automotive testing, certification and
R&D service provider under the support of NATRIP, Government of India. ICAT is situated in the northern
automotive hub of India in Manesar.
• Foreign manufacturers are keen to set up their facilities due to the presence of a large pool of skilled
and semi-skilled workers and a strong educational system.
11
GROWTH DRIVERS
Growing demand
• Rising income and a large young population .
• Demand for commercial vehicles increasing due to high level of activity in infrastructure sector
• Greater availability of credit and financing options.
Support infrastructure and high investments
• Improving road infrastructure.
• 5 per cent of total FDI inflows to India went into the automobiles sector
• Established auto ancillary industry giving the required support to boost growth.
Policy Support
• Clear vision of Indian government to make India an auto manufacturing hub.
• Initiatives like ‘Make in India’, ‘Automotive Mission Plan 2026’, and NEMMP 2020 to give a
huge boost to the sector.
12
SECTOR POLICY
FAME INDIA SCHEME II PHASE
• The Fame India Scheme II is proposed to be implemented over a period of three years from 1 April
2019, for adoption of electric mobility and growth of electric and hybrid technology to improve the eco-
system in the country.
• The Government of India, in February 2019, approved the FAME-II scheme with a fund requirement of
US$ 1.39 bn for FY20-22.
• Department of Heavy Industries is the nodal Department, responsible for planning, implementation
and review of the scheme.
DRAFT NATIONAL AUTOMOTIVE POLICY 2018
.Department of Heavy Industries formulated a draft National Automotive Policy, for the development of
the Automobile industry in India.
.Adopt a long-term roadmap for emission standards beyond BSVI and complement the same with the
global standards by 2028.
. The policy estimates to scale-up exports to 35-40% of the overall output and makes India one of the
major automotive export hubs in the world.
• Rollout CAFÉ norms till 2025.
• Associate AIS and BIS standards on safety critical parts over the next 3 years.
• Adoption of a differential taxation method based on a composite criterion, including parameters such as
CO2 emissions and length.
• Fast track adoption of Bharat New Vehicle Safety Assessment Program.
AUTOMOTIVE MISSION PLAN 2016-26 (AMP 2026)
• The Automotive Mission Plan 2016-26 outlines the trajectory of growth of the automotive ecosystem in
India, including the glide path of definite regulations and policies that govern research, design, technolo-
gy, testing, manufacturing, import and export, sale, use, recycling & repair, of automotive vehicles, and
services.
• The industry has the potential to generate US$ 300 bn revenue and 65 mn additional jobs by 2026.
• The plan also foresees India to be the first in the world in production and sale of small cars,2 -
wheelers,3-wheelers, buses and tractors; and third in passenger vehicles and heavy trucks.
• The Automobile industry is projected to be the third largest in the world, contributing 12% to GDP.
• The Automobile industry is one of the prime movers of the manufacturing sector and “Make in India”
initiative. It aims to increase exports of vehicles by5 times.
13
.
NATIONAL ELECTRIC MOBILITY MISSION PLAN 2020 (NEMMP)
• The NEMMP initiative has been taken up to encourage affordable, consistent and competent
xEV that meet consumer performance and price expectations through government-industry col-
laboration.
• India is expected to emerge as a leader in the2-wheeler and 4wheeler xEV market in the world
by 2020. total xEV sales projected as 6-7 mn units, so, enabling the Automobile industry to
achieve global xEV manufacturing leadership and contributing towards fuel security
• Promotion and development of indigenous manufacturing capabilities, required infrastructure,
consumer knowledge and technology are additional objectives of NEMMP 2020.
• The aim is to have 6 mn hybrid and electric vehicles per year on the road by 2020 under NEMMP
2020. A cumulative cost of US$2.15 bn is estimated for this initiative, which also includes industry
collaboration.
GREEN URBAN TRANSPORT SCHEME (GUTS) 2017
• The Green Urban Transport Scheme has been executed with the help of the private sector in-
cluding assistance from the central& state governments under a 7-year mission with a overall cost
of US$ 10.76 bn.
• The scheme encourages the promotion of Non-Motorized Transport , public bike sharing, Bus
Rapid Transit systems, Intelligent Transport Systems , urban freight management etc.
•The scheme promotes low carbon sustainable public transport system in urban areas. For the
first phase, 103 cities have been identified. These cities are either capital cities or have a popula-
tion of 0.5 mn and above.
14
FINANCIAL SUPPORT
R&D INCENTIVES FOR INDUSTRY AND PRIVATE SPONSORED RESEARCH
• A weighted tax deduction is given under section 35 (2AA) of the Income Tax Act. Weighted tax de-
duction of 200% is granted to assess for any sums paid to a national laboratory, technological insti-
tute. The said sum is used for systematic research within a program approved by the prescribed au-
thority.
STATE INCENTIVES
Apart from the mentioned incentives, each state in India offers additional incentives for industrial pro-
jects. Incentives are provided in the following: rebates in land cost, rate of interest on loans, power
tariff incentives, relaxation in stamp duty exemption on sale or lease of land, a concessional invest-
ment subsidies/tax incentives, backward areas subsidies, special packages for mega projects. Few ex-
amples are -
• Andhra Pradesh
Government of Andhra Pradesh is committed to providing land at concessional rates, along with
24 hours nonstop power supply.
Financial assistance limited to 75percent of the cost, subject to a maximum of US$38,462 for ob-
taining patent registration. While 50percent of all charges are subject to a maximum of US$
7,692 paid for obtaining quality certification. It is applicable to only MSME units.
Capital subsidy of 50% for common infrastructure in auto clusters and ASMC developers, up to a
maximum of US$ 3.07 mn.
Under marketing incentives, 50% of participation cost with a maximum amount of US$ 7,692 to be
reimbursed to at the most 10 MSME units per annum, for participating in international trade
fairs.
• Gujarat
Auto component manufacturers can either avail general incentives under the Gujarat Industrial
Policy 2015, or under the scheme for Mega or Innovative Projects.
• Jharkhand
Jharkhand introduced Automobile and Auto Component Policy 2016 with an aim to make Jhar-
khand a ideal destination for automobile and auto-component manufacturing units. Provision
of financial assistance of 50precent for fixed capital investments in building and common infra-
structure up to a highest of US$ 3.07 mn. 100% electricity duty exemption shall be provided
for 10 years from the date of production.
15
MANUFACTURERS WITH AN IN-HOUSE R&D CENTRE
• Section 35 (2AB) of the Income Tax Act 26, 1961 provides weighted tax deduction of 150% of the ex-
penditure incurred by a specific company, on scientific research in the in-house R&D centers as approved
by the prescribed authority. It does not include expenditure on the cost of any land or building. The
weighted tax deductions of 150% are effective until 31 March 2020.
EXPORT INCENTIVES
• Under the Merchandise Export Incentive Scheme ,automobile manufacturers get a benefit of 2% on ve-
hicle exports.
• 20 tariff headings have been considered as Sensitive items to be maintained in the negative list of India
in most of the trade agreements.
16
FOREIGN INVESTORS
• BMW (Germany)
• Borgward Automotive India Private Limited (Germany)27
• Daimler India Commercial Vehicles Pvt Ltd (Germany)
• Ford (USA)
• FIAT (Italy)
• General Motors (USA)
• Honda (Japan)
• Kia Motors (South Korea)
• Toyota (Japan)
• Hyundai (South Korea)
• Mercedes (Germany)
• Nissan (Japan)
• Piaggio (Italy)
• Renault (France)
• Suzuki (Japan)
• Sumitomo Corporation (Japan)
• Volkswagen (Germany)
• Volvo (Sweden)
17
N O T E S
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18
N O T E S
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19
Disclaimer
This publication has been prepared for general guidance on matters of interest only, and does not constitute pro-
fessional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness
of the information contained in this publication, and, to the extent permitted by law, LawDocs, its members, em-
ployees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else
acting, or refraining to act, in reliance on the information contained in this publication or for any decision based
upon it.
This publication contains certain examples extracted from third party documentation and so being out of
context from the original third party documents; readers should bear this in mind when reading the publication.
The copyright in such third party material remains owned by the third parties concerned, and LawDocs expresses
its appreciation to these firms/institutions/ companies for having allowed it to include their information in this
publication. Kindly take note that the inclusion of a company in this publication does not imply any endorsement
of that company by LawDocs nor any verification of the accuracy of the information contained in any of the ex-
amples.
© 2020 LawDocs All rights reserved.
Designed by: LawDocs Brand and Communications, India.
About LawDocs
LawDocs provides the online legal and documentation services to the corporates and public at large. At LawDocs, our purpose is to build trust in society and solve important problems. We’re a network of firms and are committed to delivering qual-ity in assurance, advisory and tax ser-vices.
Find out more www.lawdocs.in
20
In association with wPractical.com
Take informed decisions.
Click to connect
Get business advisory, now.