New Delhi, Dec. 3 -- India is reworking its electric mobility strategy after recent supply chain shocks, including the rare-earth magnet crunch and muted traction for earlier efforts to attract major global electric vehicle (EV) makers. As part of the new approach, government think tank Niti Aayog plans to host a Global EV Summit in March-April, an event that may see participation from leading global EV firms and top government functionaries, according to two people aware of the development and a concept note reviewed by Mint. Preparatory consultations have begun with the ministry of heavy industries (MHI) and domestic and international experts and think tanks, the people said. The event will be positioned as a sequel to the 2018 MOVE Summit that was inaugurated by Prime Minister Narendra Modi, as per the concept note for the event. Earlier, in August, the Niti Aayog had shifted its stance towards creating mandates along with incentives to boost India's EV adoption. The summit will focus on creating domestic policy mandates to drive EV adoption, especially for e-trucks and e-buses, supply chain management in the light of the rare-earth magnet crisis, upcoming technologies in the domain and the EV charging ecosystems, said one of the people cited above, requesting anonymity. Electric trucks and buses are crucial vehicle segments that the government plans to incentivize under the marquee PM E-Drive scheme till FY28. Other vehicle segments such as two- and three-wheelers have also got incentives under this scheme, but these will lapse in March 2026. A key objective of the summit will be to secure investments from domestic and global institutions into the country's EV sector, the note said. This, according to experts, can create scale of manufacturing within the country. Yet another aim is to create a platform for Indian businesses to participate more in global value chains in the EV sector. India had in March 2024 rolled out its Scheme to Promote Manufacturing of Electric Passenger Cars in India, popularly referred to as the "Tesla scheme". It had offered import duty cuts to foreign electric car makers on limited completely built-up units, provided the maker set up a plant in India with at least $500 million investment, and made these vehicles with a significant localization. The scheme had failed to attract the EV major to invest in manufacturing in the country. Queries emailed to Niti Aayog and the MHI remained unanswered. There was no response from Tesla either. VinFast CEO Pham Sanh Chau said, "India is one of VinFast's key strategic markets, and we expect it to make an important contribution to our global business results." Within two months of starting sales, the Vietnamese automaker is already among the top bestselling EV brands in the market, he added....