 "India–European Union (EU) free-trade agreement (FTA)")
A pending decision on the India–European Union (EU) free-trade agreement (FTA), steep investment and sales targets, and strict localisation norms amid import restrictions on rare-earth magnets are among the reasons major carmakers have shown little interest in the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI), Business Standard has learnt.
These concerns were raised with the Ministry of Heavy Industries (MHI) by automakers during a meeting on October 29. The ministry had called the meeting to assess companies’ willingness to participate in the scheme and to invite suggestions for its improvement.
Škoda Auto Volkswagen India, Renault India,
