INDIA NOT TO TAILOR POLICY FOR TESLA: GOYAL

Tesla has been seeking an initial tariff concession that would allow it to offset 70 percent customs duty for cars priced less than $40,000 and 100 percent for cars of higher value

India will not tailor its policies to suit US EV maker Tesla and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said.

India will not tailor its policies to suit US EV maker Tesla and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said.

Tesla has been seeking an initial tariff concession that would allow it to offset 70 percent customs duty for cars priced less than $40,000 and 100 percent for cars of higher value.

Goyal said the government recognises the need for a vibrant EV ecosystem as greater use of battery-run vehicles will cut carbon emissions as well as the staggering oil import bill.

But for this, it will not tailor policies that suit any one company and would rather frame ones that will encourage all-electric vehicle manufacturers from across the world to set up shop in India, he said.