India - FortunEV - Ridesharing, page-38

The three issues that I see:

Tariffs:

Revolt and Hero it seems have been importing CKD kits and calling them parts and are being denied the lower tariffs.

Maybe Future could import some of the parts that Vmoto Soco manufacture as parts to avoid the whole bike tariff. They could assemble them into a made in India bigger part that is on sold to Rattan.

Subsidies :

Ratan could buy half + of its parts in made in India form from Future to comply with the Fame rules and import the rest as parts at the lower Tariff and continue to sell the Super Soco bikes under the Revolt Brand. This would also avoid any issues with the JV agreement with Super Soco.

Selling VMT branded products in India :

If the Vmoto F1 was put through the same channels it might draw the crabs. Vmoto probably needs a manufacturing presence in India in its own name to get the cheeper tariffs and fame subsidies. Rattan or Future could well be the local distributors.