India to Manufacture Approx 7 Million Hybrid Vehicles Every Year by 2020 : Kalraj Mishra

India to Manufacture Approx 7 Million Hybrid Vehicles Every Year by 2020 : Kalraj Mishra
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Automotive industry in India is at a threshold of new regime. MSMEs who are part of this industry are integral part of this new regime. Highlighting the initiatives taken by the Modi-led NDA government, Mr Kalraj Mishra, Union Cabinet Minister, Ministry of MSME, expressed his views about Modi Government’s target of penetration of 6-7 million of electric and hybrid vehicles per year by 2020 which would result into saving of fossil fuel worth Rs 60000 crore.

“Recently, the government has launched the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme in the country. Under this scheme, the centre will offer incentives on electric and hybrid vehicles to boost the sales of electric and hybrid vehicles in the country,” Mr Mishra wrote on his Facebook page.

The scheme is aligned with Make in India campaign and expected to create additional 3 lakh employment. It will also result into reduction of 2 million MT of carbon dioxide per year.

FAME will focus on four key areas namely, technology development, demand creation, pilot projects and charging infrastructure.

Based on the results and experience achieved in the first phase, the scheme will be reviewed for implementation after March 31, 2017, with appropriate fund allocation in future.

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