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Incentives offered under a recently announced scheme to promote local production of electric cars will be applicable only to automakers that make fresh investments in a new manufacturing facility in India, senior government officials told ET. ....
The Indian government s scheme to promote local production of electric cars will offer incentives only to automakers investing in new manufacturing facilities in the country, officials have revealed. Foreign firms, including those already operating in India, can apply for benefits under the Scheme for Manufacturing of Electric Cars (SMEC) but with no retrospective approval for previous investments. ....