According to Reuters report earlier, the Indian government is planning a policy that could allow the import of EVs at a tax of as low as 15 percent. Sitharaman, however, said no such proposal has been tabled before her.
FM said that she believes in the India story because of its strengths and urged everyone to not just see the country as China’s alternative and that it has a lot more to offer
Finance Minister Nirmala Sitharaman highlighted India s resilience and potential at the B20 Summit, choosing to focus on India s narrative rather than China s economic challenges. She emphasized India s strengths, including its skilled workforce and vibrant work culture. She expressed her commitment to monitoring China s situation but stressed her primary focus on India s current position and opportunities. Sitharaman also outlined the government s initiatives to support infrastructure development, startups, and address climate concerns. She identified five key priorities for sustainable global economic recovery, including boosting investment and addressing climate change finance.
President and CEO of FedEx, Raj Subramaniam, believes that there is a significant opportunity to strengthen global manufacturing in India. He highlighted the need for India to reduce non-tariff barriers and streamline processes to facilitate the smooth flow of goods across borders.