Prime Minister launched the Voluntary Vehicle-Fleet Modernization Program (VVMP), also known as the Vehicle Scrapping Policy. The vehicle scrappage policy will bring in investments of around INR 10,000 crore (€1.2 billion) to set up 450-500 Automated Testing Stations (ATS) and 60-70 Registered Vehicle Scrapping Facilities (RVSF) across the country. A single window clearance portal is being developed where the applications for ATS and RVSF will be catered through a single portal within 60 days. A vehicle will be declared as End-of-Life or unfit if it fails the automated fitness test, the allowed retest and reinspection test if ordered by the appellate authorities.

The government has notified Production Linked Incentive (PLI) Scheme for automobile and auto components after approving it on September 15. The PLI Scheme aims to overcome the cost of disabilities and encourage the industry to make fresh investments to make advanced auto products. It is estimated that in five years, this PLI Scheme will lead to fresh investments of over Rs 42,500 crore (€8.5 billion), and incremental production of over Rs 2.3 lakh crore (€27 billion). It will create additional jobs of over 7.5 lakh jobs and enhance India's share in the global automotive trade

According to a recent report, India’s electric vehicle financing industry is projected to be worth Rs 3.7 lakh crore (€43.5 billion) in 2030, which would be about 80% of the current retail vehicle finance industry. The government is planning to set up an institution to fund businesses with a focus on electric vehicles as well as facilitate new financial instruments for lending to the public transportation and commercial vehicle segment, Union minister Nitin Gadkari said. Gadkari also said the government is planning to bring incentives for construction equipment vehicles to encourage them to become electric ones.

The Covid-19 pandemic and its damage to the Indian economy did not deter the discerning investors from lapping up opportunities in the electric vehicle and e-mobility sector. Many financial deals and the funds involved vindicate this fact. Collective investment done by e2W, e4W, EV component makers, electric commercial vehicles, and last-mile delivery companies was recorded at INR 25,045.31 crores (€2.9 billion) during January-July 2021. Electric commercial vehicles led the investments with a 32% share. Electric 4W saw an investment of 28% where M&M invested INR 3000 crore (€0.35 billion) making its contribution at 12%. It has already invested INR 1,700 crore (€0.2 billion) in India's EV business, with another INR 500 crore earmarked for a new research and development (R&D) centre

• Report 1 - Fundamentals of Electric Vehicle Charging Technology and its Grid Integration Read more/Download>>

Report 2 - International Review on Integration of Electric Vehicles charging infrastructure with distribution grid.

• Exempting Battery Operated Vehicles from paying fees for the issuance or renewal of registration certificates, as well as the assignment of new registration marks. Read more>>

• Order specifying types of Motor Vehicle on the basis of its usage Read more>>

• Regarding Electronic Monitoring and Enforcement for Road Safety Read more>>

• Procedure for Accreditation of Testing Agencies.

• Implementation of Public Procurement (Preference to Make in India) Order, 2017. Read more>>

• Ensuring full compliance of Public Procurement product (Preference to ‘Make in India’ Order), 2017 Read more>>

• Misclassification of Goods as Works in procurement

Top trade and technology bodies from the US and UK have told the Indian government to adopt the 5G standards that have been recommended by the 3GPP. India is currently in confusion about which 5G standard it should go with - 5Gi developed by Telecommunications Standards Development Society, India (TSDSI) or the 3GPP developed 5G standard. The top international trade bodies have urged the Indian government to go ahead with 3GPP standards which will give a much-needed push to electronic manufacturing in India as companies will be encouraged to set up their operations in India.  “By using globally harmonized standards such as those from 3GPP, companies can set up manufacturing operations in India with the confidence that they can easily serve both the Indian market and export to global markets,” the bodies said in a joint submission letter to the Department of Telecommunications (DoT) and the Telecommunications Engineering Centre (TEC). 

During the pandemic, India has reported the highest increase in the use of AI at 45%, as compared to other major economies (the US at 35%, the UK at 23 % and Japan at 28 %). In fact, AI startups in India attracted total funding of $836.3 million in 2020. Also, despite the total number of high-value funding shrunk, the companies that received funding almost doubled in 2020 compared to 2019,” according to homegrown independent Transaction Advisory firm, RBSA Advisors. According to the study titled ‘Artificial Intelligence & Its role in Delivering Economic Value to Indian Enterprise, investment in AI has accelerated in India during the pandemic and the country has a potential to be a global epicentre of AI. IT services and technology sectors contribute to more than 60% of the AI market, followed by BFSI, engineering and retail.

An ambitious incentive scheme worth up to Rs 12,000 crore (€1.4 billion) is in the works to encourage companies to set up data centres in the country. The govt. is targeting an investment of Rs 3 lakh crore in the next five years as part of the hyperscale data centre scheme and is planning to provide between 3% and 4% of capital investment as incentive to companies, along with real estate support and faster clearances. Vision is to “make India a global data centre hub” and termed the scheme’s target as the largest so far in terms of expected investment in the country over a period of just five years.