India May Revise EV Manufacturing Scheme Amid EU Trade Talks
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India May Revise EV Manufacturing Scheme Amid EU Trade Talks

India is considering changes to its electric vehicle manufacturing incentive scheme, SPMEPCI, to attract global automakers. Officials are evaluating introducing more direct incentives, potentially alongside import duty concessions, to counter anticipated tariff cuts from the India-EU Free Trade Agreement. Automakers have cited the ongoing FTA negotiations and China's export curbs as reasons for not yet applying to the current scheme, emphasizing that future FTA benefits might reduce the need for capital expenditure mandates.

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