Include solar and electric boats under FAME, says head of country’s first solar ferry firm

New Delhi: The government should add solar and electric boats under the Faster Adoption and Manufacture of Electric Vehicles (FAME) policy in the upcoming Budget 2019, said Sandith Thandasherry, founder and chief executive officer, Navalt Solar & Electric Boats, the company that launched India’s first solar ferry in Kerala.

“The electric vehicles (EVs), currently on road, were added in FAME policy. While, solar boats derive more than 75 per cent of their energy from the sun and the rest from the grid, which makes them cleaner,” he said. The industry also expects an import duty exemption on marine grade batteries.

“Until the technology is developed in India, government should make a policy to provide an exemption of import duty of marine grade lithium batteries,” said Thandasherry.

He further added that input tax of the components and services for making the boat was about 15 per cent to 18 per cent. Hence, the government should take prior initiatives to reduce these rates, which would be a big support for the boat building industry.