Skoda Auto India plans to establish a research and development unit, encouraged by the recent annual Union budget announcing a 150% tax deduction on an in-house R&D unit.
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“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,” Skoda India managing director Imran Hassen said.
He said it would help to expand the automobile industry while providing customers with a wider choice of products and services.
The company did not specify the amount it planned to spend on R&D in India.
Deepesh Rathore / Tilak Swarup
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