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India Seeks to Boost Electric Vehicle Sector, an Industrial Info Market Brief
Industry Segment: Market Brief | Word Count: 109 Words
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.
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