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Is the EV policy a bait for Tesla or a bet on realising India’s manufacturing potential?

Saturday, September 14th, 2024

Import duty relief for electric cars has built-in riders that safeguard domestic players while encouraging global investment 

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Highlights

The EV policy offers import duty relief to certain categories of vehiclesThe duty concession aligns with Tesla’s demand for setting up a manufacturing base in IndiaThe policy has riders to ensure that the domestic industry is not left behind in the EV raceAt the same time, the policy should encourage global investment and adoption of cutting-edge technologyBy dropping the protectionist stance, the EV policy signals India’s willingness to open up to encourage local manufacturing

When the central government

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