Industry Segment: Market Brief | Word Count: 109 Words
Attachment: India

With the support of the Indian government, automotive manufacturers in the country are focusing on the production of electric vehicles. The Indian government has rolled out a variety of incentives to boost the electric vehicle industry, such as the Fast Adoption and Manufacturing of Electric Vehicles (FAME) scheme; exempting custom duties on some electric vehicle components; reducing the Goods and Services Tax (GST) from 12% to 5%; and giving income tax benefits to companies that install solar power cells, battery-manufacturing plants and battery-charging infrastructure.