Govt in talks with industry on extension of FAME scheme, says official
FAME is a subsidy scheme introduced in 2019 for a period of three years, which extended for another two years up to 31 March 2024, and provides incentives to buyers of electric vehicles to enable wider adoption.
New Delhi: The central government is engaged in consultations with industry stakeholders to consider extending the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme or retaining its benefits, said Hanif Qureshi, joint secretary at the Ministry of Heavy Industries, on Friday.
FAME is a subsidy scheme introduced in 2019 for a period of three years, which extended for another two years up to 31 March 2024, and provides incentives to buyers of electric vehicles to enable wider adoption.
Speaking at the first Ficc Awards for Excellence in Maintenance Systems and Conference on Efficient Maintenance Systems for Sustainable Industrial Growth, Qureshi highlighted the importance of maintenance systems in driving customer satisfaction and sustainable industrial growth.
“Maintenance is what drives customer satisfaction. We want people to get a good product at competitive prices and high quality, which is the end for which we are working,” said Qureshi during his keynote speech.
He underscored the rapid expansion of the automobile industry, which currently stands at an approximate value of $150 billion. Qureshi also emphasized the projected growth of the electric vehicle (EV) segment within the industry, with a predicted compound annual growth rate (CAGR) of 26% by 2030.
He attributed this growth to supportive policies and mentioned that the FAME scheme is set to end in March 2024. As a result, the government is exploring the possibility of extending the scheme or retaining its benefits in consultation with industry stakeholders.
Also present at the event was Rajeev Sharma, Scientist-F & Deputy Director General of the Bureau of Indian Standards (BIS), who highlighted the significance of standards and digitalization in achieving sustainable industrial growth and maintenance.
“We are adding the fourth ‘S’ for standardization, in line with our honorable Prime Minister’s call for speed, skill, and scale,” said Sharma. He emphasized that standards play a crucial role in the growth and development of a nation by defining the quality, safety, performance, reliability, and durability of goods and services. He further stressed the need for standards to promote environmental sustainability and support the circular economy.
Shyam Bang, chairman of FICCI’s Manufacturing Excellence Taskforce, emphasized the pivotal role of maintenance in achieving manufacturing excellence. He emphasized the importance of maintenance activities, such as preventive maintenance, calibration of equipment, and training of engineers and technicians, in ensuring uninterrupted production of high-quality products.
The conference also shed light on the untapped potential of maintenance operations in driving sustainable industrial growth. V Sridhar, chairman of the FICCI Working Group on Plant Maintenance, emphasized the need for proactive strategies, technological integration, and comprehensive resource optimization in efficient maintenance systems.
He emphasized the utilization of advanced technologies, including analytics, machine learning, and artificial intelligence, to optimize maintenance schedules and improve productivity.
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First Published:7 Jul 2023, 04:08 PM IST
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