Auto industry has been caught in the middle of slowing economic growth that has led to a slump in demand for vehicles.
Wadhera said the three-year scheme would instill tremendous confidence in the auto and component industry while taking long-term investment decisions.
New Delhi: The Indian government has not set a deadline to launch electric vehicles or to ban manufacturing of petrol and diesel cars, a government official said on Wednesday.
The Indian auto industry has been caught in the middle of slowing economic growth that has led to a slump in demand for vehicles, forced plant shutdowns and large layoffs.
Prime Minister Narendra Modi has been working to push electric vehicles in an effort to cut India’s fuel import bill and curb pollution.
In June, a government think-tank that plays a key role in policymaking had recommended that only electric models of scooters and motorbikes with engine capacity of more than 150cc must be sold from 2025.
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