News Brief
India Not To Tailor Policies For Tesla, Open To All Global EV Manufacturers: Piyush Goyal
Commerce and Industry Minister Piyush Goyal.
India will not adjust its policies to accommodate the requests of US electric vehicle (EV) maker Tesla, according to Commerce and Industry Minister Piyush Goyal.
The country's laws and tariff regulations will be designed to attract all-electric vehicle manufacturers globally to establish a presence in the rapidly growing Indian economy, he added.
Tesla had requested an initial tariff concession to offset 70 per cent customs duty for cars priced below $40,000 and 100 per cent for cars exceeding that value.
However, Goyal emphasised that the government's focus is on creating an environment conducive to all EV manufacturers, rather than tailoring policies to benefit any specific company, as per a report by The Economic Times .
Goyal clarified that while Tesla had made demands for concessions as a prerequisite for building a plant in India, the government does not formulate policies based on individual company interests.
He reiterated that decisions are made based on broader considerations and stakeholder negotiations.
The Indian government has rolled out production-linked incentive (PLI) schemes to attract EV players, including schemes for advanced chemistry cell (ACC) battery storage and auto and auto-component manufacturing.
The goal is to leverage the growth potential of the EV market in India, which is projected to reach one crore units in annual sales by 2030, creating an estimated five crore direct and indirect jobs.
