Government is changing the FAME-II scheme to address policy flaws

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The Indian government is reportedly planning to revise the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME)-II scheme, as well as to place a greater emphasis on domestic value addition (DVA).

According to an Economic Times report, a note from the Ministry of Heavy Industries and a presentation to vehicle manufacturers revealed that a digital mechanism will be introduced to calculate the DVA. This comes just two weeks after the ministry launched an automated online data transfer for capturing critical DVA data from PLI applicants’ ERP systems to the PLI Auto Portal. “DVA data is required to be calculated and stored into OEMs’ ERP systems at the granularity level,” the ministry’s most recent presentation to vehicle manufacturers stated, according to the publication.

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Government is changing the FAME-II scheme to address policy flaws

, By Team SNFYI
Tech

The Indian government is reportedly planning to revise the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME)-II scheme, as well as to place a greater emphasis on domestic value addition (DVA).

According to an Economic Times report, a note from the Ministry of Heavy Industries and a presentation to vehicle manufacturers revealed that a digital mechanism will be introduced to calculate the DVA. This comes just two weeks after the ministry launched an automated online data transfer for capturing critical DVA data from PLI applicants’ ERP systems to the PLI Auto Portal. “DVA data is required to be calculated and stored into OEMs’ ERP systems at the granularity level,” the ministry’s most recent presentation to vehicle manufacturers stated, according to the publication.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News
ED discovered INR 800 Cr in a money laundering investigation into 365 loan apps
Next News
SEO and content marketing startup Scalenut raised $3.1 million in funds led by Saama Capital and others
Team SNFYI

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