Classic car imports now legal

Good news to all you classic car collectors and fans. The government has announced that it's lifting the ban on import of cars manufactured before 1950 into the country. As we know the government currently doesn't allow importing used vehicles into the country if they are over three years old as a step to prevent dumping of foreign manufactured used cars in our market.

Some of the specifics about the new ruling are still unclear though; for example it's unclear whether the cars will be restricted to right hand drive or if left hand-drive cars (which account for a bulk of the American and European classics we so crave) will also be allowed. As far as emission norms are concerned the car will have to confirm to the MOT (or similar) norms of the country of source. Unfortunately, the rule doesn't apply to motorbikes yet, but enthusiasts are already lobbying to have two wheelers included under the rule.

So what does this mean for the enthusiast? Well it's very good news. India has around 6000 pre-1960s (both running and to be restored) classic cars. The limitation in importing cars so far has had prices rise to stratospheric levels. It's not unheard of to have cars selling between collectors at over four times their international value. However, as Manvendra Singh, one of India's top restorers puts it, "If you have a car of historical significance in India it will hold its value." He feels that there will be a considerable influx of classic cars into the market but they might not necessarily be cars of any importance from a collector's point of view. "People might simply buy any classic they can get their hands on without the proper awareness because they simply can."

There will definitely be an influx of cars because despite the high duty rate of 120 percent (there are further taxes as well) it will still quite likely be more affordable than buying a classic from India. Happily, however, this is a win-win situation for all parties including the restorers who will now have more work thanks to the influx of cars, even if it means something as simple as regular maintenance. What hasn't changed is the ban on exporting classic cars from our country. The government thankfully recognises our country's unique collection of classic cars as national heritage and doesn't intend allowing people to start selling them overseas.