India to Open Flagship EV Making Policy to Lure Global Giants
India is set to open applications for its flagship policy offering lower import duties to global electric vehicle makers in exchange for manufacturing in India, people familiar with the matter said.
The policy, that was announced in March 2024, offers to slash duty to 15% on any imported electric car priced from $35,000 if they invest at least 41.5 billion rupees, or about $500 million, to set up a local plant within three years. Up to 8,000 cars yearly can be imported at this reduced rate.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Journals
37 minutes ago
- Business Journals
Phoenix ranks 9th in US for office space conversions, CBRE reports
If you are a resident of California, Colorado, Connecticut, Delaware, Iowa, Virginia, Nebraska, New Hampshire, New Jersey, Utah, Oregon, Texas, and Montana, you have the right to opt-out of Targeted Advertising, including our 'sale' and/or 'sharing' of your Personal Information ('Opt-Out'). We and our third-party business partners use Personal Information in accordance with our Privacy Policy to serve advertising believed to be of interest to you ('Targeted Advertising'). If you are a California resident, you also have the right to limit the use and disclosure of your Sensitive Personal information in particular circumstances. Please note that you may need to Opt-Out on each website, mobile app, browser, and device you use, and if you clear your browser cookies, you may need to repeat this process. However, if you have created an account to log in across several of our websites and/or mobile apps, we will make reasonable efforts to apply your Opt-Out request to each of those websites and apps. Please follow the steps below: To Opt-Out of Targeted Advertising: Move the 'Allow Targeted Advertising On This Site or App' toggle below to the left and press 'Confirm my Choices.' Move the 'Allow Targeted Advertising On This Site or App' toggle below to the left and press 'Confirm my Choices.' To Opt-Out of other 'sales', including for list rentals and data co-ops: Please provide information on the Webform below and press 'submit.' You can also submit this request by calling 1-800-833-7323. This information will not be used or disclosed for any purpose other than for processing this request. Please provide information on the Webform below and press 'submit.' You can also submit this request by calling 1-800-833-7323. This information will not be used or disclosed for any purpose other than for processing this request. To Opt-Out of both Targeted Advertising and other 'sales', including for lists and data co-ops: Move the 'Allow Targeted Advertising On This Site or App' toggle below to the left and press 'Confirm my Choices.' Please provide information on the Webform below and press 'submit.' You can also submit this request by calling 1-800-833-7323. This information will not be used or disclosed for any purpose other than for processing this request. Move the 'Allow Targeted Advertising On This Site or App' toggle below to the left and press 'Confirm my Choices.' Please provide information on the Webform below and press 'submit.' You can also submit this request by calling 1-800-833-7323. This information will not be used or disclosed for any purpose other than for processing this request. To limit the use and disclosure of your Sensitive Personal Information: Please provide information on the Webform below and press 'submit.' You can also submit this request by calling 1-800-833-7323. This information will not be used or disclosed for any purpose other than for processing this request.
Bloomberg
an hour ago
- Bloomberg
Chinese Firms Brush Off US Tariff Risks With Domestic Confidence
When US President Donald Trump took aim at China with record tariffs, the country's firms shrugged it off. Corporate China has since gone out of its way to assuage investors and tout its ability to weather tariff risks, citing experiences from Trump's first administration and that their businesses ultimately aren't that exposed to the US.
Bloomberg
an hour ago
- Bloomberg
South Korea's Lee Wins Election Following Months of Chaos
Good morning. Lee Jae-myung defeats Kim Moon-soo in South Korea's presidential election. Meta bets nuclear energy can help power its AI efforts. And Huawei's new phone is an early test for in-house operating system HarmonyOS. Listen to the day's top stories. South Korea's left-leaning maverick Lee Jae-myung won the presidential election, after Kim Moon-soo said he 'humbly' accepts defeat. The election marks a turning point for the country after months of chaos unleashed by former leader Yoon Suk Yeol's martial law debacle. The president-elect vowed to improve people's livelihoods and revive the economy. That may be tough as the country is one of the most vulnerable to Donald Trump's tariffs.
