The government is in the process of making live an automated data transfer system to monitor localisation content of electric vehicles availing subsidies under the Rs 10,000 crore FAME-II policy to promote indigenous manufacturing and ensure imported vehicles do not get incentivised at the expense of Indian taxpayers.
Ministry of heavy industries (MHI) secretary Arun Goel said the move would not only help in the establishment of an ecosystem for electric vehicle manufacturing in India, but also further ease of doing business.“If similar systems are replicated for schemes requiring substantial value-addition across ministries, it will ensure transparency. This will further attract investments in India and promote indigenous manufacturing”, said Goel.
Goel said the government has since stalled incentives to these players. “The incentives will be released once they prove domestic value addition norms have been adhered to. In case of a lapse, the amount of subsidy already released for non-compliant products will be adjusted against future payouts for eligible ones,” said Goel, adding the entire process is automated with no room for any “manual intervention.”
Read more: https://economictimes.indiatimes.com/industry/renewables/fame-ii-scheme-govt-to-digitally-monitor-ev-parts-localisation/articleshow/94571785.cms
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