India is considering tax cuts on the imports of completely-built units of electric vehicles, for a period of up to five years, as it tries to entice the likes of Tesla Inc. to sell and eventually make its cars in the country.

The government is working on an electric vehicle policy that would allow international car manufacturers to import battery-powered vehicles on concessional duty rates if they commit to eventually building them in India, people familiar with the matter said.

A final decision is yet to be taken on the policy’s contours, the people said, asking not to be identified as the discussions are private. Spokespeople from India’s heavy industries and commerce ministries did not immediately respond to emails seeking comment.

In 2021, the Austin-based EV manufacturer had sought duty cuts on import of electric vehicles. It was hoping to have the rates reduced to 40% from the current range of 70%-100% for its vehicles, depending on their import value.

Tesla’s Chief Executive Officer Elon Musk is likely to meet Trade Minister Piyush Goyal later this week to discuss the company’s plans to set up a factory in the South Asian nation. Mr Goyal is in San Francisco to attend the ministerial engagements of Indo-Pacific Economic Framework and the Asia-Pacific Economic Cooperation.

Tesla is seeking to break into one of the world’s most promising auto markets where the demand for electric vehicles is rising among the country’s burgeoning middle class. For India, Tesla’s investment would aid the government’s push to increase the share of manufacturing in the nation’s GDP while also creating jobs.

India’s electric car market is currently at a nascent stage with EVs accounting for just 1.3% of the total passenger vehicles sold last year, according to BloombergNEF. The adoption of EVs in the country has been held back by the high cost of cars, a dearth of options and lack of charging stations.

Opening up the EV segment could speed up the adoption of cleaner transport in a country that currently has the world’s most toxic air. The government launched a $3.1 billion incentive program in 2021 to boost local EV production.

Separately, India is also considering reducing import taxes on some electric vehicles from the UK as part of negotiations with Britain over a free-trade deal.

A 1962 Ferrari 250 GTO sports car sold for $51.7 million in New York on Monday, making it the second most expensive car ever sold at auction, Sotheby’s said.

The bright red roadster had been the property of an American collector for the past 38 years, and its auction price was surpassed only by that of a Mercedes 300 SLR Uhlenhaut Coupe that went for 135 million euros in 2022, the auction house said. That would be $144 million at today’s exchange rate.

The 250 GTO went on sale Monday evening after a few minutes of bidding in the auction room, but at a price lower than the more than $60 million expected by RM Sotheby’s, the luxury car subsidiary of the auction house.

Sotheby’s did not identify the winning bidder.

Dating from 1962, this legendary Scuderia sports car — chassis 3765, four-liter engine developing 390 horsepower — had finished second in a 1,000 km endurance race on the German Nurburgring circuit, as well as in the legendary 24 Hours of Le Mans, where the team had to withdraw due to engine failure, according to RM Sotheby’s.

After several years of competition on the Italian mainland and in Sicily, the car was sold and exported to the US in the late 1960s.

Restored and modified, the 250 GTO changed American owners several times before ending up in the hands of an Ohio “dedicated collector” in 1985, who sold it on Monday.

“This stunning GTO offers its next caretaker further touring and vintage racing enjoyment, or display at major concours d’elegance and marque gatherings worldwide,” Sotheby’s said.

The Mercedes 300 SLR Uhlenhaut Coupe that fetched 135 million euros in 2022 was one of only two examples of the sport car. It sold at a confidential auction at the German manufacturer’s museum in Stuttgart and was the most expensive car ever sold worldwide, whether at auction or privately, a RM Sotheby’s spokesman told AFP.

This week, New York auction houses Sotheby’s and Christie’s conclude their autumn season of art sales, which have not been affected by hard times and are raking in hundreds of millions of dollars.

The market is driven by China and Asia and shows no signs of slowing down, according to Sotheby’s, despite a tense international context.

“Whatever happens in the financial markets, a car of this caliber is a collector’s item, a once-in-a-lifetime opportunity,” Michael Caimano of RM Sotheby’s told AFP before the sale, comparing the Ferrari to a work of art that “can be touched, felt and heard.”

Bhai Dooj, also known as Bhai Tika, Bhaubeej, Bhai Phonta, or Bhratri Dwitiya, is a festival that celebrates the special bond between siblings. The day marks the culmination of the five-day-long Diwali festivities in many states. Every year, Bhai Dooj is celebrated two days after the festival of lights. This year Bhai Dooj will be celebrated on two days, November 14 and 15.  

Bhai Dooj 2023: Puja Vidhi

On this occasion, sisters apply tilak on the forehead of their brothers and pray for their long and happy lives, while carrying a colourful thali filled with sweets, roli, and coconut. While applying tilak, the brother’s face should be towards the north or northwest and the sister’s face should be towards the northeast or east. Then brothers and sisters treat each other with traditional Indian sweets and celebrate this special day with the exchange of gifts. Both brothers and sisters have to fast till the pooja is done.

If, for some reason, the brother cannot visit the sister, then the sister can send the tilak and dry coconut to her brother. Women without brothers worship Moon Chandra, as is customary in Maharashtra and Haryana on the auspicious occasion of Bhau-beej. 

Raksha Bandhan and Bhai Dooj are quite similar up to an extent, however, on Bhai Dooj, sisters do not tie a thread or Rakhi on the wrists of their brothers like they do on Raksha Bandhan.

Bhai Dooj 2023: Auspicious Time To Apply Tilak and Shubh Muhurat 

According to Drik Panchang, Bhai Dooj will start on November 14 and continue till November 15.  The auspicious Muhurat will start in the afternoon on Tuesday and end on Wednesday. 

Bhai Dooj aparahna time: 01:21 PM to 03:33 PMDuration: 02 Hours 12 MinsShubh muhurat on November 14: Dwitiya tithi begins at 02:36 PMShubh muhurat on November 15: Dwitiya tithi ends at 01:47 PM

As per Hindu mythology, it is believed that Goddess Yamuna fed her brother Yamraj on Kartik Dwitiya at her own home. Since then this day is also known as Yama Dwitiya.