India to give $3.5 bn in revised clean tech scheme for auto firms: Report

India sees clean auto technology as central to its strategy to reduce its oil dependence and cut pollution.

India will give about $3.5 billion in incentives to auto companies over a five-year period under a revised scheme to boost the manufacturing and export of clean technology vehicles, two sources aware of the latest proposal told Reuters.

The government's original plan was to give about $8 billion to automakers and part manufacturers to promote mainly gasoline technology, with added benefits for electric vehicles (EVs).

The scheme was redrawn to focus on companies that build electric and hydrogen fuel-powered vehicles, Reuters reported on Friday, with the shift just as Tesla Inc is gearing up to enter India.

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