News Update

 
Govt working on formulation of National Automotive Policy

By TIOL News Service

NEW DELHI, FEB 17, 2018: DEPARTMENT of Heavy Industry is working for formulating the National Automotive Policy for holistic development of automobile sector in India. After series of one to one stakeholder consultation, Department has finalized the draft Automotive Policy which proposes to:

- Adopt a long-term roadmap for emission standards beyond BSVI and harmonize the same with global standards by 2028

- Rollout CAFE norms till 2025 and beyond and setup incentives/ penalties

- Adopt a composite criterion based on length and CO 2 emissions to classify vehicles for differential taxation purposes

- Harmonize automotive standards over the next 5 years in line with WP-29

- Improve the skill development and training eco-system, increase accountability of ASDC and implement a Labor Market Information System

- Retain tax exemption on different levels of R&D expenditure with strong audit control

- Scale-up of indigenous R&D with commercially viable innovations

- Harmonize AIS and BIS standards on safety critical parts over next 3 years

- Fast track adoption of Bharat New Vehicle Safety Assessment Program


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