Budget 2024: The Indian electric vehicle industry seeks government support through initiatives such as the extension and enhancement of the FAME scheme, GST parity for EV batteries, and financial incentives including tax credits, subsidies, and low-interest loans. Industry players emphasize the importance of these measures in promoting a sustainable and eco-friendly future, incentivizing consumers, boosting industry growth, and stimulating innovation and job creation.
Prominent figures in the Indian electric vehicle industry are hopeful for GST parity for EV batteries used in swapping, lower GST rates on batteries and charging, and an extension of the FAME II subsidy program in the upcoming Interim Budget.
The startups involved in battery swapping have accused that the proposed standards in the policy draft favour one particular industry player. Amid these accusations, there has been much back-and-forth, with one battery swapping company saying that at the last meeting of stakeholders, the ministry of heavy industries had assured everyone of juking the standardisation requirement.
Battery Swapping Policy: The startups involved in battery swapping have accused that the proposed standards in the policy draft favour one particular industry player. Amid these accusations, there has been much back-and-forth, with one battery swapping company saying that at the last meeting of stakeholders, the ministry of heavy industries had assured everyone of juking the standardisation requirement.
Now as the CEO of T-Hub, Srinivasa Rao Mahankali is a key driver of the unique partnership between the Government of Telangana, the International Institute of Information Technology, the Indian School of Business and the National Academy of Legal Studies and Research and the private sector.