Union Minister Nitin Gadkari has forecasted a significant surge in India’s electric vehicle (EV) sector, with an anticipated one crore EV sales and the creation of five crore jobs by 2030. Speaking at the 19th EV Expo 2023, Gadkari expressed optimism about India’s potential to become the world’s leading EV manufacturer. The government’s commitment to electric mobility is evident in its plans to transition 70% of vehicles on the road to EVs by 2030.
Gadkari disclosed that the government has approved the retrofitting of existing vehicles into hybrids and EVs, aiming to address environmental concerns. Regulations for this conversion have been finalized, with successful technology demonstrations. Furthermore, the focus extends to shifting public transport and logistics toward EVs in the near future.
To boost EV manufacturing, the government has implemented the Production-Linked Incentive (PLI) scheme, emphasizing battery cell manufacturing and strengthening the supplier ecosystem. State governments are encouraged to formulate EV policies for faster adoption.
Despite the impact of the recent FAME II policy revision on EV prices, there are reports of a forthcoming FAME III policy. This expected policy is poised to provide a supportive framework, ensuring sustained momentum in India’s electric mobility drive. With these initiatives, India aims to not only promote sustainable transportation but also emerge as a global leader in the EV revolution.