February 14, 2019 / 10:20 AM / 5 days ago

India could extend deadline on steel import rules for automakers -sources

NEW DELHI, Feb 14 (Reuters) - India is considering extending by four months a compliance deadline on tougher import rules for steel that are aimed at forcing automakers to use locally made alloy, said two sources familiar with the matter.

Compliance to the new rules had been set for Feb. 17, which was an extension of two months, but strict adherence to the regulations would have stalled production for India’s auto industry, a federal minister has warned.

India’s auto manufacturing sector is dominated by Maruti Suzuki, Hyundai Motor Co, Honda Motor Co and Ford Motor Co. (Reporting by Neha Dasgupta; Editing by Mayank Bhardwaj and Tom Hogue)

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