SMM12, 14 March: HSBC (HSBC) economists, including Paul Bloxham, pointed out in a report on December 12 that as India's economic growth becomes more dependent on commodities, its role in global resource markets will increase. A strong rebound in energy demand is more secure than a sharp increase in metal consumption.
India's economy is more service-oriented and may not emulate China's commodity-intensive growth model. A key factor in metal demand driven by infrastructure and housing will be the degree of reform that can be achieved, including public finances and diversified investment projects. India's investment cycle is often driven by policy developments, and there is likely to be some rebound in investment after next year's general election, supporting stronger demand for commodities.
In the field of new energy, India also has plenty of room for growth. Among the major initiatives to combat pollution, the Indian government in Delhi released a draft 2018 Delhi electric car policy in late November, which aims to turn 25 per cent of registered vehicles into electric vehicles by 2023. The policy talks about strengthening the infrastructure of battery charging and switching stations to provide access within three kilometres anywhere in Delhi and to create more jobs in the driving, sales, financing, maintenance and charging of electric vehicles. "recognizing the need for new approaches to developing the electric vehicle market, we have drafted a comprehensive Delhi electric vehicle policy aimed at making Delhi a leader in the use of electric vehicles," said Transport Minister Sh Kailash Gahlot.
Electric two-wheeled vehicle
The Delhi government says consumers will receive subsidies of up to 22000 rupees when buying electric two-wheelers to ensure that the cost is lower than or equal to the cost of gasoline two-wheelers. There is an additional subsidy for models with replaceable batteries.
Electric vehicle / tricycle
Delhi will have an open licensing system for electric vehicles, with owners of individual electric vehicles receiving a down payment subsidy of up to 12500 rupees and a 5 per cent interest subsidy. Passengers traveling in electric vehicles will receive a refund of 10 rupees per trip.
Erickshaws (electric tricycle)
Batteries for Erickshaws will be replaced by lead-acid batteries. The government will also provide Eerickshaw owners with a subsidy of 20000 rupees and a 5 per cent interest subsidy.
Ecabs (Electric Taxi)
