PTI
Updated On Dec 13, 2023 at 06:27 PM IST
The government on Wednesday said it is not considering any proposal to provide duty concessions and exemption from local value addition for import of electric vehicles into the country. Responding to a question whether there is any proposal to exempt Tesla and other multinational car companies from local value addition of cost in heavy batteries, semiconductors and magnetic parts; and subsidy on the import duty on the import of Electric Vehicles (EVs) in India, Minister of State for Commerce and Industry Som Parkash said a production-linked incentive scheme for automobile and auto component industry with a budgetary outlay of INR 25,938 crore was announced by the government.
The move was aimed at providing financial incentives to boost domestic manufacturing of advance automotive technologies products including EVs and their components, he said.
“Presently, there is no proposal either to provide exemption from local value addition cost or to provide subsidy on import of EVs in India,” Parkash said.
The government has also taken various steps to boost boost domestic and foreign investments in India to enhance local value addition cost or to provide subsidy on import duty on import of EVs in India,” Parkash said.
The government has also taken various steps to boost domestic and foreign investments in India to enhance local value addition under Make in India initiative, the minister said in a written reply to the Lok Sabha.
The government, he said, has approved PLI scheme for advanced chemistry cells battery storage with a budgetary outlay of INR 18,100 crore.
