The Indian government has amended its stance regarding the importation of historic vehicles. According to the new rules, cars that are 50 years or older will be permitted for import into the country. This policy replaces the previous rule, which limited the import of automobiles made after 1950. The antique cars will be subject to the Motor Vehicles Act of 1988, as well as the conditions outlined in Chapter 3 A of the Central Motor Vehicles Rules of 1989.
The Directorate General of Foreign Trade (DGFT) has, however, firmly prohibited the resale of these imported vehicles, declaring that they are intended for personal use. In a warning to dealers, it was indicated that any attempt to resell historic cars in India could result in tighter future circumstances, including a possible five-year no-sale rule. All cars imported into India will continue to be subject to Customs tax, GST, and registration fees, which will total around 25% of the car’s worth.
The classic vehicle collector community is very active in India, particularly in places like Mumbai and Delhi. Classic vehicle meets are frequent in these cities, allowing car collectors to display their prized assets for public viewing. These events typically include classic cars from Mercedes-Benz, Jaguar, Fiat, Cadillac, and Ford. However, with the implementation of the new laws, the number of classic automobile collectors in the country may increase, resulting in a wider range of vehicles displayed at vintage car exhibitions.
