Electric Vehicles Update Query. The union minister for power and new & renewable energy, shri r. The automotive sector is a major contributor to india's economy, accounting for 7.1 percent of its gdp and providing significant employment.
However, incentives/subsidies are being provided to buyers of electric vehicles in the form of an upfront reduction in the purchase price of electric vehicles. The ministry of heavy industries has given incentives to buyers and manufacturers of electric vehicles through following three schemes: