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Govt to take action against firms violating FAME-II localisation norms: Pandey – EQ Mag

Govt to take action against firms violating FAME-II localisation norms: Pandey – EQ Mag

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New Delhi : The government will take action against the companies found violating localization norms under the flagship Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (Fame) scheme, Heavy Industries Minister Mahendra Nath Pandey said on Tuesday.

Speaking with PTI on the sidelines of an Assocham event here, the minister said that the disbursement of subsidies has been put on hold for the companies that are under investigation for alleged violation of norms.

Asked about reports of companies having flouted localisation norms under the FAME II scheme, Pandey said, “We are strictly investigating that”, and added “If our condition has been flouted then the requisite action will be taken”.

Source: PTI
Anand Gupta Editor - EQ Int'l Media Network