India Approves $3.5 Billion Plan to Boost Clean Fuel Vehicles
Voice of America
NEW DELHI - India’s Cabinet on Wednesday approved an incentive plan for the automobile sector aimed at boosting production of electric and hydrogen fuel-powered vehicles and promoting the manufacture of drones.
The government will give about $3.5 billion in incentives to auto companies and drone manufacturers over a five-year period, Anurag Thakur, minister of information and broadcasting, told reporters.
“The incentive scheme has been designed to help India become a global player in the automobile sector,” Thakur said, adding it would also boost local manufacturing.
The proposal comes at a time when annual car sales in India have fallen to their lowest in a decade due to the pandemic, which followed an economic slowdown in 2019. Sales of electric vehicles (EVs) make up a fraction of the total.
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