Industry body Federation of Indian Chambers of Commerce and Industry (FICCI) has recommended various measures to the government including the continuation of the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicle)-II scheme till 2025, to enhance demand for electric vehicles.
FICCI’s EV committee, which submitted the recommendations, has sought continuation of the scheme along with short term booster incentives under the scheme for 12 months to enhance demand. Besides, FICCI has sought extension of subsidy support for electric two-wheelers and electric three-wheelers with swappable battery to encourage EV ecosystem. It has also recommended that retail financing for EVs should be made part of priority sector lending, for higher financing availability by banks to these vehicles.