Indian Government to fund car manufacturers
February 18, 2009 – 11:21 am by Rachit HiraniThe Indian government will fund the Indian automotive manufactures for their R&D expenses. Small manufacturers will get 100% funding to upgrade their technology.
Big players like Maruti, Tata and Hyundai will get only 50% funding for their R&D. The Indian government is helping the automakers like the U.S. government funded GM, the French government injected cash into Renault and Citroen and Italian government funding its manufacturers. The Indian Government has approved projects worth upto Rs 500 crore from the automotive cess fund.
Tags: Indian automakers to get funding, Indian government, Indian government funds carmakers
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