<h1>India Approves Policy for EV Manufacturing Hub with Rs 4150 Crore Minimum Investment, Boosting Make in India Initiative.</h1> The Indian government has approved a policy to establish India as a key manufacturing hub for electric vehicles (EVs), requiring a minimum investment of Rs 4150 crore with no cap on maximum investment. Companies must set up manufacturing facilities within three years and achieve 50% domestic value addition within five years. The policy allows limited imports of EVs at reduced customs duties to encourage global manufacturers to invest. This initiative aims to enhance the Make in India program, reduce crude oil imports, lower the trade deficit, and improve air quality, benefiting public health and the environment.