“It involves concessional tariffs for limited volumes of imports by global EV manufacturers, linked to ironclad commitment by them to invest in India a minimum of $500 million,” Rajesh Kumar Singh told CNBC’s Sri Jegarajah.”And also meet very stiff localization targets of 25% by the third year and 50% by the fifth year,” he added. “It was meant for all global EV manufacturers and domestic manufacturers.”While much of the “buzz has been around Tesla,” Singh underscored the initiatives will…
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India says new EV policy will open up market to global players
