How does the recent reduction in import duty on EVs impact India's efforts in promoting electric vehicles
India woos Tesla by slashing import duty on EVs to 15% from 70-100%.
- Reduction in import duty on EVs makes it more cost-effective for foreign manufacturers like Tesla to introduce their electric vehicles in the Indian market.
- This move will encourage Tesla and other automakers to invest in setting up manufacturing facilities in India, boosting the country's 'Make in India' initiative.
- Lower import duty will lead to increased availability and affordability of EVs, stimulating the adoption of electric vehicles in India.
- It will also enhance the penetration of eco-friendly and sustainable transportation options, supporting India's efforts to reduce carbon emissions and combat climate change.
- The reduction in import duty signals a positive step towards creating a conducive environment for the growth of the electric vehicle industry in India.
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a year ago