Piyush Goyal: India plans new EV investment policy

18 Sep 2023 CW Team

Piyush Goyal, Union Commerce Minister, announced that India intends to formulate a new policy aimed at drawing electric vehicle (EV) manufacturers and promoting increased investment in the sector.

Goyal's remarks came as US EV manufacturer Tesla engaged in discussions with Prime Minister Narendra Modi's administration regarding the potential establishment of a factory in India.

Last month, India was in the process of developing an EV policy. The policy was designed to reduce import taxes for automakers who committed to local manufacturing.

When questioned about the government's intentions, Goyal mentioned that consultations would be conducted with the industry regarding the new policy. He stated, "A policy will be formulated." He further stated that the government's objective was to attract more investment and promote increased domestic EV production as quickly as possible. Goyal also emphasised that as large-scale production is achieved, the benefits of economies of scale associated with new technologies would start to materialise. He did not reveal any details about potential incentives.

In August, Tesla's senior executives, who expressed interest in establishing a factory in India, held discussions with Goyal. Tesla's plan involves the production of a low-cost EV priced at $ 24,000, which is approximately 25% cheaper than their existing entry-level model. This new vehicle is intended for both the Indian market and for export.

Also read:
Indian domestic air passenger traffic increased by 23%
Haryana Plans Airstrip Expansion for Better Regional Connectivity

Technology

29 Jul 2026

AI-Enabled Workflows Lift Profitability and Productivity

Organisations modernising frontline workflows with artificial intelligence, automation and real-time data are reporting stronger financial performance, higher productivity and improved employee engagement, according to a global study by Zebra Technologies and Oxford Economics.The research covered 1,000 senior leaders across retail, manufacturing, transportation and logistics in the US, Mexico, the UK, Germany, India, Japan, Australia and New Zealand.In transportation and logistics, 54 per cent of companies that improved picking and packing operations reported faster operational performance, wh..

India Leads Global AI Readiness but Implementation Lags

Indian companies lead global averages across all eight artificial intelligence readiness indicators tracked by JLL, but only 19 per cent have started making changes to their workplaces, according to the JLL 2026 Future of Work Survey.The study found that 77 per cent of Indian business leaders expect AI to change their office requirements, creating a 58-percentage-point gap between awareness and implementation. The survey covered more than 2,200 CEOs, CFOs and real estate leaders across 21 countries during the first quarter of 2026.Despite concerns over automation, 58 per cent of Indian leaders..

Three WOLFF Cranes Build Riyadh Cable-Stayed Bridges

Three WOLFF 180 B luffing jib cranes are supporting the construction of two cable-stayed bridges alongside the existing Wadi Laban Bridge in Riyadh, Saudi Arabia. The project is being developed for the Royal Commission for Riyadh City and executed by the ICRC joint venture comprising IC Ictas and Al Rashid Trading & Contracting Company.The cranes are handling lifting operations including formwork, reinforcement, concrete placement, work platforms, surveying equipment and other construction materials. Each crane is fitted with a 40 m jib, reaches a hook height of 157 m and offers a maximum ..