India Seeks to Boost Electric Vehicle Sector, an Industrial Info Market Brief

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.