Transformative policy initiative
startup entrepreneur dedicated to revolutionising the agricultural sector through the countrywide adoption of electric tractors, I believe that GoI’s new EV policy will herald a transformative era in this new-age industry. The policy’s provisions, including duty concessions for companies investing a minimum of $500 mn in EV manufacturing units and mechanisms to reduce customs duties on limited imports of EV products, are poised to spur innovation in the EV sector.
At the core of our startup’s mission lies a commitment to sustainability, efficiency and empowerment. We envision a future where tractor owners across the country will have access to cutting-edge tech that boosts productivity while minimising environmental impact. The introduction of new EV designs aligns perfectly with our vision, fostering an environment conducive to growth and development in the burgeoning EV market.
The stipulated minimum investment requirement underscores GoI’s dedication to attracting capital into the EV sector. This framework not only bolsters investor confidence but also charts a clear path for both new and established players. The surge in the number of EV manufacturers in India since 2021, which stood at 380, highlights the growing momentum in the sector.
Moreover, the reduction in customs duties on limited imports of EV products signifies the industry’s overall quality. By curbing critical imports, the policy encourages collaboration and knowledge exchange with international partners, aligning with global efforts to combat
