“The visionary stance of the Union Budget 2023-24 towards sustainable mobility played a pivotal role in the successful realization of the target of 1 million electric two-wheelers, providing crucial support to the industry. Looking ahead to the Union Budget 2024-25, there is anticipation for a further boost in support for Electric Vehicle (EV) infrastructure in the country. Optimism surrounds the potential reduction in both input and output Goods and Service Tax (GST) for EVs and spare parts—a move that would significantly enhance accessibility and broaden the reach to the masses. Additionally, hopes are high for increased financing opportunities, propelling research and development to a larger scale. This, in turn, would open doors for substantial investments in the ecosystem, accelerating India’s overall adoption of electric vehicles. A crucial aspect lies in the call for added incentives specifically directed at Indian Original Equipment Manufacturers (OEMs), aiming to stimulate advancements in localizing EV technology, fortifying the indigenous industry, and contributing to a more self-reliant and progressive economic landscape for the industry.”
Related Articles
Looking To Double Turnover By 2030-31: Maruti Suzuki India CEO
New Delhi, Jul 5 Maruti Suzuki India is looking to double its turnover to around Rs 1.68 lakh crore by 2030-31 from FY22 level in line with parent Suzuki Motor Corporation’s global growth strategy, company Managing Director and CEO Hisashi Takeuchi said on Wednesday. The company expects India to “play a very big role” in […]
HC Stays Delhi Govt’s Notice Halting Rapido, And Other Bike Taxi Aggregators’ Services
In a big relief to cab aggregator Rapido, the Delhi High Court on Friday stayed the public notice and show cause notice issued by the Delhi Transport Department against continuing their operations. A division bench comprising Justices Suresh Kumar Kait and Neena Bansal Krishna also directed the Transport Department to not take any coercive steps […]
JLR Q1 Retail Sales Up 29% At 1,01,994 Units
New Delhi, Jul 7 Tata Motors-owned Jaguar Land Rover on Friday reported 29 per cent rise in retail sales in the first quarter ended June 30 at 1,01,994 units, as compared to the same period a year ago. The growth reflects continuing improvement in chip and other supply constraints, Tata Motors said in a regulatory […]