Word: importance
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...product and have faced unique challenges trying to get a foothold in the market. With few open roads to hit, but plenty of traffic jams to navigate, Indian consumers, unlike their Chinese counterparts, often opt for function over form. Those who want a stylish ride pay for it dearly: import duties of more than 100% essentially double the sticker price of all foreign cars. To get around that, BMW and Mercedes assemble some of their models locally, cutting the taxes in half. When BMW first arrived in India, it discovered that the customers who could afford a luxury car were...
...Defense Department's approval of a new arms package to Taiwan on Wednesday was the best new year's gift that President Ma Ying-jeou could ask for. Ma's new year started with an embarrassing diplomatic crisis this week over U.S. beef imports. Lawmakers from Ma's party overturned a U.S.-Taiwan agreement, just signed in October, lifting a ban imposed in 2003 on U.S. beef parts. The new legislation, passed Tuesday, reinstitutes the ban on the import of beef skull, brains, eyes, spine, intestines and ground beef from places with cases of mad cow disease within the past...
...National Institutes of Health (NIH) announced it would pour $190 million into a multilab, nationwide initiative to understand "how and when epigenetic processes control genes." Dr. Elias Zerhouni, who directed the NIH when it awarded the grant, said at the time - in a phrase slightly too dry for its import - that epigenetics had become "a central issue in biology." (See TIME's health and medicine covers...
...taxes on imported whiskey, not the taste, that prevent it from winning more market share. The import duties begin at 150%, and additional state taxes can add another 150% or more to the price of a bottle. Wine and beer face similar import duties, as well as additional and constantly changing state taxes and regulations. The complexity of the market means that only big producers like Jack Daniels and Jim Beam can afford to make a go in India on their own, and usually only with their premium labels. Although single-malt is a new status symbol in India, Scotch...
...India's government has been encouraging automakers to build cars in India to avoid high import levies of up to 120% and to minimize production costs. Volkswagen, for example, plans to increase sourcing parts locally from 50% currently to 80% in the next two years, according to Joerg Mueller, head of the German carmaker's India group. (Watch TIME's video "Owning a Nano, the World's Cheapest...