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SUMMARY
The MoS said that automakers cited rare earth curbs, ongoing India-EU FTA negotiations and investment thresholds as reasons for not participating in the scheme
Additionally, OEMs informed the ministry that the investment thresholds and timelines under the scheme would impact the achievement of domestic value addition targets
Approved last year, the SPMEPCI allowed global automakers to pay lower duty on imports of electric four-wheelers if they committed to invest INR 4,150 Cr in…
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