The Ministry of Heavy Industries (MHI) has notified the detailed guidelines for the “Scheme to Promote Manufacturing of Electric Passenger Cars in India”.
The scheme permits approved applicants to import completely built-up electric four-wheelers manufactured by global group companies with a minimum cost, insurance and freight value of $35,000 at a reduced customs duty of 15 per cent for five years. The total duty foregone under the scheme is capped at Rs 6.48 billion or the actual investment committed by the applicant under the scheme, whichever is lower.