The Centre will tighten scrutiny on applications from foreign automakers based in countries that share a land border with India, such as China
On the other hand, existing companies in India won’t be required to set up a new subsidiary to apply under the new EV policy
India’s decision to cut import duties on EVs has triggered fears of a rise in trade imbalance with Beijing in the auto sector as India imports almost 25% of auto components from China
The government is looking to implement stricter norms for investments under the new electric vehicle policy that slashed tariffs to 15% on imported EVs.
As part of the forthcoming guidelines, the Centre will tighten scrutiny on applications from foreign automakers based in countries that share a land border with India, such as China, ET reported, citing a government official.