The automobile taxation landscape in India may soon see a shift if Toyota Kirloskar Motor’s Executive Vice President, Vikram Gulati, has his way. Gulati argues for a focus on national goals of reducing fossil fuel consumption, decarbonization, and supporting ‘Make in India’ initiatives. He calls for an inclusive approach that extends tax incentives beyond just fully electric vehicles.
In a recent interview, Gulati highlighted the newly launched Camry hybrid as a testament to the role hybrid technology could play in India’s electrification journey. He stresses that hybrids, alongside other innovative technologies, should receive proportionate tax incentives to help realize the country’s sustainable objectives.
With current tax rates benefiting electric vehicles and hydrogen fuel cells, Gulati’s call for a broader incentive framework comes amid a fast-evolving automotive landscape. His stance highlights the need to look at global examples, such as Europe’s carbon emission-based taxation, urging India to re-evaluate its policies for a more holistic approach to sustainability.
(With inputs from agencies.)