Key Points
India has no restrictions on the import of electric vehicles from any country, including China, under a new EV policy, a senior government official told a TV channel on Tuesday...
Last month, the Indian government approved the new EV policy, under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million...
The companies that would set up manufacturing facilities for EV passenger cars will be allowed to import a limited number of cars at lower customs/import duty of 15 per cent on vehicles costing USD 35,000 and above for five years from the date of issuance of the approval letter by the government...
The GTRI report said that in the "next few years, every third electric vehicle and many passenger and commercial vehicles on India roads could be those made by Chinese firms in India alone or through Joint Venture with Indian firms"...
"The policy not only aims to attract global EV majors to invest in India but also emphasises a significant Domestic Value Addition (DVA) criteria, ensuring the creation of a robust supply-side ecosystem," Automotive Component Manufacturers Association (ACMA) President Shradha Suri Marwah told PTI last month...
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