EV car policy may be tweaked based on free trade agreement outcomes

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EV car policy may be tweaked based on free trade agreement outcomes - Business Standard

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The Centre is open to modifying its Scheme to Promote Manufacturing of Electric Passenger Cars in India (SMEC) on the basis of the outcomes of the bilateral trade agreement (BTA) with the US and other free trade agreements (FTAs), according to a senior government official. If the discussions yield to slashing tariffs on imported cars to 15 per cent, similar to what is mentioned in the SMEC, with specified investment numbers, the government may revise the policy accordingly to keep it attractive to global auto manufacturers, the official said.