India's vision in the electric vehicle space is to move to a leadership position and set global benchmarks, Union Minister for Heavy Industries and Steel H D Kumaraswamy said on Tuesday.
Speaking at the 5th Global Electrification Mobility Summit here, the minister said the goal is to set global benchmarks, build resilient industries and create sustainable livelihoods for the youth with a focus on setting global benchmarks and creating sustainable livelihoods. “India's vision is to move from adoption to leadership, from participation to influence, and from scale to strategic depth in the electric mobility journey,” he said.
Citing a NITI Aayog report, the minister noted that the electric mobility transition is not only an environmental imperative, but also a multi-million dollar economic opportunity. “Electric mobility will transform service delivery through connected vehicles, data-driven fleet management, intelligent transport systems and new ownership models,” he said.
India’s progress in the digital ecosystem and dynamic startup community are well-positioned to lead innovation in the electric vehicle space, Kumaraswamy stated. He noted that India's transition to electric mobility has moved decisively from intent to implementation with the latest economic survey reflecting the pace and scale of this transformation.
The electric vehicle market has recorded a compound annual growth rate exceeding 60 per cent in the financial year 2024-2025 with electric vehicle registrations approaching 2 million units, Kumaraswamy said.
India has set an ambitious national objective of achieving net zero emission by 2070 and electric mobility is seen as a key driver for achieving these goals, enabling cleaner growth, energy security and industrial transformation, he stated.
Elaborating on the support provided by the government for the sector, he noted that the Ministry of Heavy Industries has allocated Rs 2,000 crore under the PM E-DRIVE scheme for setting up over 70,000 charging stations nationwide. Citing initiatives taken in the Budget, Kumaraswamy said the capital goods for critical minerals manufacturing have been granted exemption from basic customs duty, providing a strong boost to domestic manufacturing.
SIAM President Shailesh Chandra emphasised on the importance of policy consistency and infrastructure development for electric mobility. He highlighted the need for a coordinated effort involving government, industry and academia to build a thriving industry capable of competing globally. Chandra noted that the biggest remaining barrier is the charging infrastructure, which requires government orchestration and collaboration between various stakeholders.
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