Prices of electric cars will come down as modi government is preparing to cut import duty by upto 40 percent achs– NayaTez

Prices of electric cars will come down as modi government is preparing to cut import duty by upto 40 percent achs– NayaTez

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New Delhi. If you are planning to buy an electric car (e-Car), then this news is for you. In fact, the Narendra Modi government at the Center is planning to cut the import duty on electric cars by up to 40 percent. If this happens, then there will be a huge reduction in the prices of e-cars. It is being told that the government is considering reducing the import duty on imported e-vehicles valued less than $ 40,000 from 60 percent to 40 percent. At the same time, there is a plan to reduce the import duty on e-vehicles costing more than $ 40,000 from 100 percent to 60 percent.

‘Government is in favor of reduction in conditional import duty’
An official said that under the chairmanship of Prime Minister Narendra Modi, the Finance Ministry, Commerce Ministry and NITI Aayog are discussing the proposal to cut import duty. In fact, Elon Musk, owner of Tesla, the world’s largest electric car maker, wrote a letter to the Indian government in July urging it to reduce the import duty on e-cars to 40 percent. According to sources, the government is in favor of cutting duty on the condition of benefiting the domestic economy by manufacturing companies like Tesla locally.

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‘You have to see your benefits before the fee cut’
The official said that a large number of electric vehicles are not imported into India. In such a situation, the reduction in the import duty of the central government will not create a big problem. However, before taking any decision on this, the government will have to see its economic benefits. Along with this, the interests of domestic manufacturers will also have to be taken care of. Another official said that only electric vehicles are being considered for reduction in import duty and not on other categories of imported cars. Hence, it cannot become a cause for concern for the domestic automakers.

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