JUNE 20258BAYER LAUNCHES BICOTA TO PROTECT RICE CROPS FROM STEM BORERINDIA UNVEILS NEW EV POLICY TO BOOST LOCAL MANUFACTURINGIndia has launched a transformative electric vehicle (EV) policy, the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI), aimed at positioning the country as a global EV manufacturing hub. Announced by the Ministry of Heavy Industries, the policy slashes import duties on EVs from 70-110% to 15% for vehicles priced at $35,000 (approximately 30 lakh) or less, incentivizing global automakers to invest in local production.To get the tax break, companies need to pour at least 4,150 crore ($500 million) into setting up EV plants within three years. They also have to use 25% locally made parts within three years, ramping up to 50% by year five, tying into the `Make in India' push. To qualify, firms need to be heavy · India cuts EV import duty to 15% to lure 4,150 crore global investments in local plants· New policy mandates 50% local EV parts by year 5 to fuel 'Make in India' drive· Big players like Hyundai, VW, Kia eye entry as India targets 30% EV sales by 2030Beginning in June 2025, the product will be offered in 11 states, including Tamil Nadu, West Bengal, Punjab, and Haryana, according to a statement from Bayer. BICOTA targets stem borers, which harm crops and drastically lower rice production. According to the manufacturer, the product promotes root and tiller development and offers longer-lasting protection with a single application than other options on the market.Bayer endeavours to make life easier for farmers through its innovations," said Mohan Babu, Chief Operating Officer for India's Crop Science Division at Bayer. With BICOTA, we not only want paddy farmers to have solutions that will protect their crop but also save them time and labour costs and help improve their yields and income."The manufacturer claims that the granular formulation is compatible with Integrated Pest Management techniques and is made for easy field application.According to Bayer, beneficial insects can safely use the pesticide. For hundreds of millions of people, rice is a staple food, and India is one of the biggest producers of the grain worldwide. Farmers continue to face significant challenges in managing pests, especially when weather patterns shift. · Bayer launches BICOTA to fight rice stem borers across 11 Indian states.· Single application offers longer-lasting protection, boosts root and tiller development.· Granular formula suits IPM practices; safe for beneficial insects, easy application.hitters with 10,000 crore in yearly automotive revenue and 3,000 crore in fixed assets. Approved companies can bring in up to 8,000 EVs annually at the lower tax rate, with a cap on total tax savings at 6,484 crore.Union Minister H.D. Kumaraswamy said global brands like Mercedes-Benz, Volkswagen-Skoda, Hyundai, and Kia are keen to jump in, but Tesla seems more focused on opening showrooms for imported cars than building factories here. The policy doesn't count land costs toward the investment and limits spending on charging stations to 5% of the total. Companies also need to put up a bank guarantee to show they're serious.India's EV market is still small, making up just 2.5% of car sales in 2024, but the government wants that to hit 30% by 2030. Local players like Tata Motors and Mahindra & Mahindra are ready to shine, though smaller companies might struggle with the tough requirements. The policy also tackles hurdles like the lack of fast-charging stations, which has kept some buyers on the fence.This big move is set to bring in huge investments, create jobs, and help India cut down on carbon emissions as it works toward a net-zero future by 2070. Applications for the scheme are opening soon, and we could see made-in-India EVs rolling out in the next few years. TOP STORIESAs the German life sciences business broadens its agricultural portfolio in India's major rice-growing regions, Bayer AG announced on Monday the launch of BICOTA, a new product intended to assist rice farmers in managing stem borer bugs.
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