The sector is also anticipating soaps from the government to boost the battery and charging infrastructure, rationalise tax structure and support the R&D capabilities.
"Policy measures and initiatives promoted by the Government of India and state governments were instrumental in kick-starting the vehicle electrification story in the country," said Rohan Kanwar Gupta, Vice President & Sector Head Corporate Ratings, ICRA Limited. The rating agency expects that there could be a substantial allocation towards subsidy incentives in the Budget, both for manufacturers and consumers.
This story is from the July 16, 2024 edition of The New Indian Express.
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This story is from the July 16, 2024 edition of The New Indian Express.
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