Budget 2019- Reaction by Debajit Roy, Country Director, QAD India – EV Industry

“The government’s move to lower the GST  on Electric Vehicles has opened new avenues for the industry. Reducing the GST on EVs from 12 per cent to 5 per cent can be seen as a big step in favor of sales of EV cars in India. The deduction of Rs 1.5 lakh on the loan interest to purchase an electric vehicle in India will  not just  benefit  the industry  but also for consumers who are looking to switch to electric vehicles

There is pool of the companies emerging in this space to evolve the entire ecosystem and the opportunities created by government will enable these companies to penetrate fast. Moreover with the liquidity gap being addressed in this budget, the industry will even move forward towards  economy’s growth”