Mumbai: Government of India is considering reducing import duty on electric vehicles. Government sources said that the government has not considered this request of vehicle manufacturers that the duty rate on imported electric vehicles should not be reduced at the moment.
The government is considering reducing the fees on electric vehicles in view of India’s repeated criticism to impose 100 percent high import duty on vehicles in India by US President Donald Trump.
Sources in the automobile industry believe that the government is considering reducing import duty keeping in mind that Elon Musk, CEO of Tesla, a close associate and electric vehicle company, is willing to drive his vehicle in India.
A government official said that the government has so far given great protection to the country’s automobile industry and now the government wants to open the automobile industry.
India is the third largest auto market in the world. The Government of India is planning to increase business relations with Trump by reducing the fees on vehicles.
The electric vehicle sector in India is still in its initial stage and the auto companies of the country are investing huge to move towards electric vehicle production. Any reduction in duty will make it easier for Tesla to import vehicles in the country, which can be a challenge for Indian companies.
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