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CII Calls For Multi Stakeholder Consultations Across Value Chain For Electric Vehicles

Capital Market 

The (CII) has called for for multi-stakeholder consultations across the for Electric Vehicles with a special focus on affordability of consumers as embarks on one of its strategic goals of transition driven by CII advocates a three-pronged strategy to make this transformational shift in
Constructive Disruptions driven by market forces coupled with enabling policies is the kernel of any innovation and we are hopeful that the same is adopted as readies itself for the advent of new technologies in mobility including electric vehicles, President CII stated. The government has recently announced a to be led by NITI Aayog.

CII has engaged with stakeholders from various interlinked industries like and power, battery makers and auto manufacturers to create recommendations that will help achieve its goals of lowering emissions and conform to commitments on climate change. One of the first strategies to adopt is to set the right goal that should be seen from the macro perspective of carbon footprint and The target and the time line set to achieve the desired goal needs to be deliberated with diverse stakeholder consultations at the initial phase so that it is both sustainable and achievable.

CII also urged the government to be technology-agnostic in its approach as the sector like any new industry segment is witnessing huge and transformative innovations both in vehicles and batteries. The final strategy for making the transformative mobility mission effective revolves around affordability of customers which will depend on market forces. Vehicles like two wheelers and three wheelers are preferred modes of transport in rural villages and towns where most of India resides. It may be significant to record the growth in this segment and how it impacts household income. In 2018, two-wheeler market breached the 21 million units mark for the first time.

According to estimates by SIAM, the auto industry association, the industry's turnover is close to half of the GDP, supports 37 million jobs and contributes 11% of the GST revenues of the country. It also supports a host of and services industries. Any policy decision in this regard will thus need to keep pace with the ground realities.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 10 2019. 16:48 IST