India has no restrictions on the import of electric vehicles from any country, including China, under a new EV policy, a senior government official told a TV channel on Tuesday. Last month, the Indian government approved the new EV policy, under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million. The companies that would set up manufacturing facilities for EV passenger cars will be allowed to import a limited number of cars at lower customs/import duty of 15 per cent on vehicles costing USD 35,000 and above for five years from the date of issuance of the approval letter by the government. At present, cars imported as completely built units attract customs duty ranging from 70-100 percent, depending on the engine size and cost, insurance and freight value less or above USD 40,000. The govt later said that the policy will not impact domestic players and on the contrary, expand the Indian electric vehicles market. (ICE NEW DELHI)

Fonte notizia: Economic Times