India plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters. A proposal drafted by NITI Aayog, a federal think tank chaired by Prime Minister, said India could slash its oil import bills by as much as $40 billion by 2030 if electric vehicles were widely adopted.