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According to a senior government official, India’s FDI rules imply that any country sharing land border with it can only invest under the government route. The policy discourages any direct investments from China .
The guidelines are expected to provide more clarity on investments in EV manufacturing in the country, which is at a nascent stage and is expected to grow into a major category within the automobile sector in the coming years.
Representatives of all the major automobile manufacturers of India including Maruti Suzuki, Hyundai, Tata, Mahindra, Kia, Skoda Auto Volkswagen India, and Renault were present in the meeting.
States may offer incentives such as land at a concessional rate to attract foreign investments during Tesla CEO Elon Musk’s India visit later this month. | Latest News India
India Business News: Elon Musk discusses Tesla's plans to launch a manufacturing plant in India, highlighting the country's need for electric vehicles. The move aligns wit