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Innovation, research will be key in driving down costs and improving efficiency of EVs: HD Kumaraswamy, Minister for Heavy Industries and Steel, GoI
Nov 19, 2024
Need to explore installing EV chargers in various cities; Govt will make investments supporting necessary infrastructure development: Tarun Kapoor, Adviser to PM, Prime Minister’s Office
We are considering launching an ‘India Electric Mobility Index’ to rank states based on their electric mobility performance: Sudhendu Jyoti Sinha, Program Director, NITI Aayog
- Rs 16,000 cr capex investment required to meet India’s public charging demand for EVs by 2030: FICCI-McKinsey Report
- Need for time-bound quantifiable goals with regular progress reviews to enable policymakers to assess impact of policies, make timely adjustments and achieve uniformity in implementation: FICCI - Yes Bank Report
NEW DELHI, 19 November 2024: Mr HD Kumaraswamy, Minister for Heavy Industries and Steel, Govt of India today said that India stands at a critical juncture in its journey towards green and sustainable transportation. “Innovation and research will be key in driving down costs and improving efficiency of electric vehicles. We are actively supporting research initiatives in battery technology, charging infrastructure and recycling,” he emphasized.
Addressing the FICCI’s National conference on Electric Vehicles – Accelerating E-Mobility: Enablers and Imperative’, the Minister said, “The PM E-Drive is focused on creating an expansive EV ecosystem that supports both manufacturers and consumers through incentives and infrastructure development.”
The Minister further stated that the government’s commitment to sustainable mobility goes beyond policy, and it embodies a vision of energy security, cleaner air, and modernized transport. “As we transition to electric vehicles, we reduce our reliance on fossil fuels, cut emissions, and pave the way for sustainable growth,” he noted.
Mr Kumaraswamy highlighted that the Ministry of Heavy Industries is leading the nationwide push for electric vehicle adoption, contributing to India’s ambitious net-zero target for 2070. We are seeing valuable exchanges in areas like battery recycling, gird integration and software-driven efficiency, all of which are strengthening India’s position in global EV landscape. “Electric vehicles represent not only an environmental commitment but a transformative shift for India’s economy, industry and society. The government is committed towards this vision and is implementing measures to strengthen the EV sector’s foundation,” he added.
Mr Tarun Kapoor, Adviser to PM, Prime Minister’s Office stated that the EV sector is important for us not only from the energy security point of view but also the aim of the government is to make India a hub of EV manufacturing. He added that India has the target of increasing the EV sale penetration reach 30 per cent by 2030 and the government is working in that direction. “On 2-wheelers, we should have much higher targets and a complete replacement is what we have to look for in this segment. On 3-wheelers as well, the switch has to be 100 per cent, at least in some cities. On 4-wheelers, government is fully supportive and there is a need to look at GST on batteries and charging stations,” he added.
Mr Kapoor further stated that under the PM E-Drive scheme, there is a significant outlay for charging infrastructure. “We can further explore installing chargers in various cities, wherever necessary, such as parking spaces, offices, and public areas requiring charging facilities. The government will make investments supporting necessary infrastructure development,” he added.
Dr Anish Shah, President, FICCI and Group CEO & Managing Director, Mahindra Group said, “In the last four years, the EV industry has transitioned from 0 per cent to 23 per cent. The subsidy has come down from Rs 1 lakh to Rs 50,000, and now to Rs 25,000, as increased volumes and scale have driven down costs. This subsidy will continue until the end of FY26. Beyond FY26, it will no longer be required, because we will reach that level of scale where the industry can fund it themselves.”
Ms Jyoti Vij, Director General, FICCI said, “The government has a huge focus towards the EV sector. The PM E-DRIVE scheme is giving it a lot of push, it's not just about production, but also about adoption. FICCI remains committed to the growth of this segment.”
Speaking on ‘Building a Robust EV Charging Network’, Mr Sudhendu Jyoti Sinha, Program Director (Tpt-Infra I), NITI Aayog said, “We are considering launching an India Electric Mobility Index to rank states based on their electric mobility performance. This initiative aims to encourage improvement, identify excellence, and facilitate best practice sharing.”
During the session, 2 reports – FICCI-McKinsey Report ‘Public charging infrastructure roadmap’ and FICCI - Yes Bank Report ‘DRIVING ZEV TRANSITION- From Center to States’ were released.
Link to report: Report 1.pdfFICCI-Yes Bank Report (FICCI-McKinsey report, attached).