NITI Aayog CEO Amitabh Kant on Monday said that the government is keen on electric vehicle maker Tesla manufacturing its vehicles in India. Responding to a question about availability of Tesla vehicles in India during BT Budget Roundtable 2022, Kant said that the present policy allows the company to come in and there is no hindrance to its entry in India. "...but what the government is keen on is that whatever we do, it should be linked to manufacturing in India. That's what China had done. So we are saying that do 'Make in India' of Tesla, we will be very happy to assist and provide and support you with everything," Kant said. While the Elon Musk-led company has been calling for cuts in customs duties in India for its vehicles, the government has refused to do so. Also Read: Budget Roundtable Live Updates: Budget process has become more transparent, says Arvind Subramanian
Kant said there are two rates of duties in the country -- one at 110 per cent for luxury vehicles and the other is about 60 per cent for cars which are assembled in India. "Tesla is most welcome at 110 per cent duty, it is welcomed at lower rates of duties if it assembles in India, it is very welcome to do manufacturing, and that's what we are keen on. That whatever you do, manufacture in India and make that commitment," Kant said, adding that debates and discussions are going on with the company. Kant also called the Budget announcement by Finance Minister Nirmala Sitharaman for taxing income from virtual digital assets at 30 per cent and 1 per cent TDS as the right move. Cryptocurrency is just another asset class like mutual funds, gold and bonds, he said. It is a new asset class and a lot of number people are transacting through it, leading to government losing revenue by not taxing it, he said while calling the government's decision to tax income from cryptocurrencies as the "right policy".
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