The Indian government made a landmark announcement on March 15, 2024 approving a comprehensive scheme aimed at positioning India as a global hub for electric vehicle (EV) manufacturing.What is the minimum amount of investment to made by a company under this scheme to avail the potential benefits?

Rs 4,150 crores

he Indian government made a landmark announcement on March 15, approving a comprehensive scheme aimed at positioning India as a global hub for electric vehicle (EV) manufacturing. This policy, designed by the Ministry of Commerce & Industry, seeks to entice significant investments from renowned global EV manufacturers into the Indian market. The essence of the policy is to foster innovation, attract investments, and make advanced technology accessible within the country. Companies are required to invest at least Rs 4,150 crore, with the policy not capping the maximum possible investment. This move is to ensure substantial financial influx into the EV sector.