Not just FAME, EV industry wants FM Sitharaman to do these changes in Budget Bahi Khata
electric vehicle industry in India is advancing at a rapid pace. However, industry players note that it still needs some hand-holding as it is yet to mature. There is almost a consensus on the government continuing FAME subsidies in FY25. Along with that, many industry players have asked for GST parity for EV batteries, as well as financial incentives such as tax credits, subsidies, and low-interest loans.
Here's what the industry players are asking from Finance Minister Nirmala Sitharaman.
Hyder Khan CEO Godawari Electric Motors
«I eagerly anticipate the upcoming budget with optimism and a fervent hope for increased support towards the electric mobility sector. The extension and enhancement of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme would be instrumental in propelling India towards a sustainable and eco-friendly future. Substantial subsidies for electric vehicles and related infrastructure would not only incentivize consumers but also bolster the growth of our industry. These measures will not only promote cleaner transportation but also stimulate innovation and job creation. I look forward to a budget that recognizes the pivotal role electric mobility plays in achieving environmental goals and economic development, and I trust that the government will continue to foster a conducive ecosystem for the electric vehicle industry to thrive.»
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Akash Gupta, Co-Founder and CEO, Zypp Electric
«Prioritizing the electric vehicle (EV) sector is crucial for a sustainable future. First, inclusion in the priority lending scheme will fuel growth by facilitating easier access to capital. To
