Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian Union Minister of Road, Transport and Highways, Nitin Gadkari said, India is ready to fully develop lithium-ion vehicles, a move that could reduce the cost of electric vehicles (EVs) in the country, according to reports.  


India’s first electric tractor is scheduled to be launched next month, Union Minister, Nitin Gadkari said, adding, India currently manufactures almost 90pc of world’s leading car brands and would soon become a major transport manufacturing hub. 


Talking about the scrappage policy, the minister said, the policy could increase the sale of new vehicles. The initiative will promote a circular economy and make the process of economic development more sustainable and environment-friendly, added Gadkari. 


The ministry has urged vehicle manufacturers to give a 5pc discount on new vehicles bought against scrapping of old vehicles. 

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