Government invites EU companies to invest in India’s EV sector
The government on Friday has invited EU companies to invest in India’s growing electric vehicle (EV) sector by participating in the ‘Scheme for promotion of manufacture of electric cars in India’, which offers customs duty reductions and incentives for global automakers.
A high-level meeting was held between Minister for Steel and Heavy Industries, H D Kumaraswamy and a European Union delegation led by Stéphane Séjourné, Executive Vice-President for Prosperity and Industrial Strategy of the European Commission that focused on deepening cooperation between India and the EU in the steel and heavy industries sector, with a focus on sustainability, investment and technological advancements.
“India’s automobile sector is expanding rapidly, and we encourage European companies to be a part of this transformation,” Kumaraswamy said.
Both sides also discussed on technology development in EV batteries, wherein the EU delegation expressed strong interest in joint research and innovation to reduce dependence on rare earth elements and critical materials in EV battery production.
Both sides acknowledged the need to develop sustainable and cost-effective battery solutions, a government statement said.
They also discussed on standardisation in battery technologies, in which the EU side emphasised the importance of developing uniform standards in battery components and technologies that would enable compatibility across India and the 27 EU nations.
Steel Sector
In the steel sector, the Indian side proposed greater collaboration in technical diffusion and research for Green Steel manufacturing as part of the country’s commitment to sustainable industrial practices.
“As a landmark move towards the green transition, India became the first country to define green steel and released the ‘Taxonomy of Green Steel’ in December 2024. We are committed to driving this transformation on a global scale,” Kumaraswamy highlighted.
The EU delegation acknowledged India’s progress in green steel production and emphasised the need to create a global market for green steel. The discussions underscored the role of policy frameworks, investment, and joint initiatives in expanding the adoption of environmentally sustainable steel manufacturing.
The EU side also expressed interest in enhancing cooperation between academia and industries in both regions for the development of future technologies, particularly in low-emission steel production, carbon capture, and advanced manufacturing techniques.
