India: Increase import tariffs on electric vehicles next year

The US Forbes biweekly website reported on March 9 that in order to encourage the development of the country's electric vehicle industry, the Indian government has developed a two-pronged strategy for both consumers and manufacturers: it will provide $1.4 billion in subsidies and Import tariffs will be raised next year to stimulate domestic companies to produce electric vehicles. The policy will take effect in the new fiscal year beginning in April, but the details have not yet been announced.