Manufacturers will have to commit to eventually building EVs in India to avail of the tax cuts.<\/h2>\n

According to a media report, the Indian government is looking at allowing international automakers to import EVs on concessional duty rates.\u00a0<\/p>\n

It is said that the government could offer tax cuts on imports of completely built units (CBU) of electric vehicles for a period of up to 5 years. However, to avail of the tax cuts, manufacturers will have to commit to eventually building them in India.<\/span><\/p>\n

The news comes at a time when Piyush Goyal, Minister of Commerce and Industry, is on a visit to the US to participate in regional trade meetings and woo investments from EV markers.\u00a0<\/span><\/p>\n

The minister also stopped by Tesla\u2019s manufacturing facility in Fremont, California, where he met with engineers and finance professionals working in senior positions.<\/span><\/p>\n

Source:\u00a0Bloomberg<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Manufacturers will have to commit to eventually building EVs in India to avail of the tax cuts. According to a media report, the Indian government is looking at allowing international automakers to import EVs on concessional duty rates.\u00a0 It is…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"\n