
Keel laying of eighth anti-submarine warfare ship held
The keel laying of the eighth anti-submarine warfare (ASW) ship being built for the Indian Navy was held at Cochin Shipyard Limited (CSL) by Vice Admiral Rajaram Swaminathan, Controller of Warship Production and Acquisition, on May 29, 2025.
Among those present were Madhu S. Nair, Chairman and Managing Director, CSL, and Rear Admiral Vishal Bishnoi, Assistant Controller of Warship Production and Acquisition.
The contract for building eight ASW ships was signed between the Ministry of Defence (MoD) and CSL on 30 April 2019. The Mahe class of ships will replace the in-service Abhay class ASW corvettes of the Indian Navy and are designed to undertake anti-submarine operations in coastal waters, low-intensity maritime operations, mine-laying operations, and subsurface surveillance. The vessels are capable of a maximum speed of 25 knots and have an endurance of 1,800 nautical miles. They are fitted with indigenously developed, state-of-the-art sonars for underwater surveillance. This exemplifies India's capability to manufacture high-end, technology-intensive warships with a high indigenous content under the 'Aatmanirbhar Bharat' initiative.
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Indian Express
8 hours ago
- Indian Express
Tesla not keen to manufacture in India: Minister HD Kumaraswamy
Electric Vehicle (EV) major Tesla is not interested in manufacturing in India but is looking at opening two stores, Union Heavy Industries Minister H D Kumaraswamy said on Monday. He, however, said that global EV makers like Mercedes-Benz, Volkswagen-Škoda, Hyundai and Kia have shown interest in applying under the ministry's flagship Scheme to Promote Manufacturing of Electric Passenger Cars in India, notified in March last year. 'Mercedes-Benz, Volkswagen-Škoda, Hyundai and Kia — all these companies have already shown interest. Tesla, we are actually not expecting from them. They (Tesla) are going to start two showrooms, they are not interested in manufacturing in India,' Kumaraswamy said at a media briefing. In February, US President Donald Trump had criticised Tesla's plan to expand in India, calling it 'unfair' to the US. 'Now, if (Tesla CEO Elon Musk) built the factory in India, that's okay, but that's unfair to us. It's very unfair,' he had said. Trump has since made similar objections to Apple's expansion plans in India. The heavy industries ministry also issued detailed guidelines on Monday under the EV manufacturing scheme, and will soon issue a notice inviting online applications. Under the scheme, approved applicants will be required to make a minimum investment of Rs 4,150 crore to produce EVs domestically, with defined domestic value addition (DVA) goals. In turn, they will be eligible to import a maximum of 8,000 completely built-in units (CBU) of electric four-wheelers per year, with a minimum import value of $35,000 at a reduced Customs duty of 15 per cent for a five-year period. The scheme is limited to global manufacturers with a revenue of at least Rs 10,000 crore per year, with fixed assets valued at a minimum of Rs 3,000 crore. 'The scheme is strategically crafted to position India as a global hub for electric vehicle manufacturing… By mandating domestic value addition targets, the scheme will further boost the 'Make in India' and 'Aatmanirbhar Bharat' initiatives, while empowering both global and domestic companies to become active partners in India's green mobility revolution,' Kumaraswamy said. Earlier, many believed the scheme was envisaged to attract Tesla to manufacture in India, after it complained of high duties on car imports, which can go up to 110 per cent. Shortly after the scheme was announced in March 2024, in the run-up to the Lok Sabha polls, Musk was expected to visit India and make a pledge to pump over $2 billion into a car manufacturing facility in the country. However, the visit was postponed after Musk cited 'very heavy Tesla obligations'. But, a few days after cancelling his India trip, Musk visited China — the company's second-largest market. In February this year, days after Prime Minister Narendra Modi met Musk in Washington, Tesla announced 13 job openings in India, including store manager, service advisor, business operations analyst, and customer engagement manager. As Tesla mulls over its operational goals in India, the company is facing increased competition from Chinese EV makers, particularly BYD, as global EV sales growth has tapered. Meanwhile, according to think tank Global Trade Research Initiative (GTRI), it could take years before the first batch of EVs manufactured under the Centre's scheme hit the market. 'While announcement of the scheme guidelines is a positive step, the application process has not opened yet and is expected soon. Realistically, it may take another six months or more before selected firms are announced, and the first locally made EVs under this scheme are still some time away; for now, approved firms can keep importing fully built cars at the reduced 15% duty,' GTRI said in a release.
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First Post
16 hours ago
- First Post
India tweaks guidelines for Made-in-India electric cars, allows importing vehicles at lower tariff
Heavy Industries Minister H.D. Kumaraswamy called the policy a strategic move to make India a manufacturing base for EVs, stating that the plan provides a strong policy framework to attract both foreign and domestic manufacturers read more India has rolled out a revised incentive program aimed at attracting foreign automakers to set up electric vehicle (EV) manufacturing operations within the country, offering significantly lower import duties in return for firm investment commitments. The Ministry of Heavy Industries on Monday (June 2) notified detailed guidelines for the scheme, which allows global manufacturers to import a limited number of fully built EVs valued at $35,000 or more at a concessional duty rate of 15 per cent. This compares with the existing duty structure of 70 to 110 per cent. STORY CONTINUES BELOW THIS AD In exchange, companies must commit to investing at least Rs 4,150 crore, or approximately $486 million, and begin producing electric passenger vehicles locally within three years of receiving approval. Heavy Industries Minister H.D. Kumaraswamy called the policy a strategic move to make India a manufacturing base for EVs, stating that the plan provides a strong policy framework to attract both foreign and domestic manufacturers seeking long-term presence in the growing Indian EV market, according to a report by Moneycontrol. Investment rules and revenue requirements Approved companies will be permitted to import up to 8,000 vehicles annually at the reduced tariff. Any unused quota may be carried over to subsequent years. The total benefit derived from the lower duties has been capped at Rs 6,484 crore or the actual investment made, whichever is lower. To qualify, applicants must belong to corporate groups with at least Rs 10,000 crore in annual revenue from automotive manufacturing and a minimum of Rs 3,000 crore in fixed assets. A non-refundable application fee of Rs 5 lakh will apply. The ministry said it will accept applications for at least 120 days starting this month, with a final deadline of March 15, 2026, although new windows may be opened at the government's discretion. Companies must meet revenue targets of Rs 5,000 crore in the fourth year after approval and Rs 7,500 crore in the fifth. Failure to meet these benchmarks could result in penalties of up to 3 percent of the shortfall in revenue. Domestic value addition and industry response The program includes mandatory local content targets. Manufacturers will need to achieve 25 percent domestic value addition (DVA) within three years and raise it to 50 per cent by the fifth year. The government believes these thresholds will support its 'Make in India' and 'Aatmanirbhar Bharat' initiatives while allowing firms to introduce advanced EV technologies. 'Through calibrated customs duty concessions and clearly defined DVA milestones, the scheme aims to balance technology infusion with local capability development,' said Kumaraswamy. The government had originally announced the plan in March 2024 but held it back for revisions to attract larger players and impose more stringent eligibility norms. Automakers such as Mercedes-Benz, Hyundai, Kia, Skoda and Volkswagen have expressed interest in entering the Indian market under the revised terms. Kumaraswamy added that Tesla, which has been in discussions with Indian officials for years, is not expected to manufacture cars in the country for now, although it is preparing to start vehicle sales. STORY CONTINUES BELOW THIS AD The new guidelines may ramp up competition for Indian automakers that currently dominate the local EV space. Tata Motors and Mahindra & Mahindra, which together lead the segment, had previously lobbied against a broad cut in import duties to protect their early investments. India's EV penetration remains modest. Just 2.5 per cent of 4.3 million passenger vehicles sold in 2024 were electric, but the government has set a goal of reaching 30 per cent by 2030.


United News of India
18 hours ago
- United News of India
Govt approves scheme to boost electric passenger car manufacturing in India
New Delhi, June 2 (UNI) The Central government on Monday approved a forward-looking scheme to promote the domestic manufacture of passenger cars, with a special focus on electric vehicles (EVs). Addressing a press conference, Union Minister of Heavy Industries HD Kumaraswamy said, 'This landmark initiative aligns with India's national goals of achieving Net Zero by 2070, fostering sustainable mobility, driving economic growth, and reducing environmental impact. It is designed to firmly establish India as a premier global destination for automotive manufacturing and innovation'. He said, the scheme is strategically crafted to position India as a global hub for electric vehicle manufacturing. With a minimum investment threshold of Rs 4,150 crore, it provides an enabling policy environment for leading global and domestic players to establish long-term manufacturing footprints in the country. Through calibrated customs duty concessions and clearly defined domestic value addition (DVA) milestones, the scheme strikes a balance between introducing cutting-edge EV technologies and nurturing indigenous capabilities, Kumaraswamy said. 'By mandating domestic value addition targets the scheme will further boost the 'Make in India' and 'Aatmanirbhar Bharat' initiatives, while empowering both global and domestic companies to become active partners in India's green mobility revolution,' he added. The Ministry of Heavy Industries (MHI) has issued notification regarding detailed guidelines for the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India' (SPMEPCI/the Scheme) MHI had issued the Scheme notification on 15th March 2024, an official statement said. The Department of Revenue, Ministry of Finance had also issued the notification on March 15, 2024 for reduced import duties in line with the provisions of the Scheme. The notice for inviting applications under the scheme is proposed to be notified shortly, whereby the prospective applicants would be able to submit online applications. The scheme shall help to attract investments from global EV manufacturers and promote India as a manufacturing destination for e-vehicles. It will also help put India on the global map for manufacturing of EVs, generate employment and achieve the goal of 'Make in India'. To encourage the global manufacturers to invest under the scheme, the approved applicants will be allowed to import Completely Built-in Units (CBUs) of e-4W with a minimum CIF value of USD 35,000 at reduced customs duty of 15 percent for a period of five years from the Application Approval Date. Approved applicants would be required to make minimum investment of Rs 4,150 crore in line with the provisions of the scheme. UNI RBE BM