Under the FAME scheme, companies were to make electric vehicles (EVs) in India and get subsidised by the centre. But multiple players ended up using imported components in their vehicles and getting financial supports for the same. This was followed by the government sending recovery notices of Rs 450 crore to seven companies electric two-wheeler (e2w) companies for violating local sourcing norms required to be met under FAME India to claim incentives. These companies were also barred from submitting future claims under the scheme.
Indian Oil Corporation (IOC) has begun producing specialised reference petrol and diesel in India for the first time. These fuels, which have higher specifications, are used for calibrating and testing automobiles by manufacturers and testing agencies. Previously, India relied on imports for these fuels, but now IOC has developed indigenous products to replace them, ensuring a reliable supply at a lower cost. The fuel, which has higher specifications than regular or premium petrol and diesel, will be unveiled at an upcoming event featuring Oil Minister Hardeep Singh Puri.