IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 02 Mar 2017 | Removal date: open ended
Still in force

Consumption subsidy

On 02 March 2017, according to consistent press reports Tata Motors along with its exclusive vehicle distributor in the UAE i.e. United Diesel LLC, signed a financial agreement with the state-owned Emirates NBD Bank. The highlighted financial agreement establishes that Emirates NBD will provide preferential credit financing to the clients of their Bank who are interested in purchasing commercial vehicles that are manufactured by TATA Motors and distributed to the UAE jurisdiction via United Diesel LLC. Furthermore, as a result of this financial agreement, Tata Motors and United Diesel LLC will develop the infrastructure to provide their customers with favourable financing schemes for the purchase of their vehicles -- i.e. schemes accompanied by reduced interest rates according to the consistent press reports.

The press reports do not provide any specifics neither concerning the total monetary value of the financial agreement nor the terms of the loans to be provided by the highlighted parties. However, at least one press report states that customers of the Bank may receive lower interest rates to finance car purchases.

Tata Motors, United Diesel LLC

Tata Motors headquartered is an Indian multinational automotive manufacturing company. United Diesel LLC is a UAE-based company distributing vehicles of the world's largest brands in the UAE. 

Emirates NBD

Emirates NBD with corporate headquarters in Dubai (UAE) is one of the largest banking groups in the Middle East in terms of assets. The key shareholder of the Bank is the government of Dubai with 55.76% ownership stake.

 

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.

 

 

AFFECTED COUNTRIES

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TABLE
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AFFECTED SECTORS AND PRODUCTS

491 Motor vehicles, trailers & semi-trailers; parts
8702 Motor vehicles for the transport of ten or more persons, including the driver.
870210 With compressionignition internal combustion piston engine (diesel or semidiesel)
870290 Other
8703 Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars.
870310 Vehicles specially designed for travelling on snow; golf cars and similar vehicles
870321 Of a cylinder capacity not exceeding 1,000 cc
870322 Of a cylinder capacity exceeding 1,000 cc but not exceeding 1,500 cc
870323 Of a cylinder capacity exceeding 1,500 cc but not exceeding 3,000 cc
870324 Of a cylinder capacity exceeding 3,000 cc
870331 Of a cylinder capacity not exceeding 1,500 cc
870332 Of a cylinder capacity exceeding 1,500 cc but not exceeding 2,500 cc
870333 Of a cylinder capacity exceeding 2,500 cc
870390 Other

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