Global Trade Alert
Global Trade Alert

India: Scheme launched to promote the manufacturing of electric vehicles

Announcement

15 Mar 2024

On 15 March 2024, the Indian government announced a scheme that reduces customs duties for companies investing in local manufacturing of electric vehicles.

Source

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Number of interventions

4

2 certainly harmful

0 likely harmful

2 liberalising

List of interventions

Implementation date

15 Mar 2024

Revocation date:

14 Mar 2029

Announced: 15 Mar 2024
Tax or social insurance relief In force
On 15 March 2024, the Indian government approved a scheme that permits the import of limited quantities of electric cars at a reduced customs duty (see related intervention). Since the scheme is restr...
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Announced: 15 Mar 2024
Local value added incentive In force
On 15 March 2024, the Indian government approved a scheme to promote the manufacturing of electric four-wheelers by temporarily allowing reduced customs duty on imports of cars (see related interventi...
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Implementation date

15 Mar 2024

Revocation date:

14 Mar 2029

Announced: 15 Mar 2024
FDI: Financial incentive In force
On 15 March 2024, the Indian government introduced a scheme to promote the manufacturing of electric four-wheelers in the country. The press release notes that the policy has been designed to "attract...
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Announced: 15 Mar 2024
Import tariff In force
On 15 March 2024, the Indian government approved a scheme to promote the manufacturing of electric passenger cars. Under the scheme, companies investing at least INR 4'150 crore (USD 500 million) and ...
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