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ealising the urgent need to re-think and revisit transport
infrastructure and fuel dependency as well as the potential
of EVs in doing this, the Indian government has announced
plans to make the country a 100% EV nation by 2030.
RIn line with this, in Union Budget 2018, the government
allocated $40.5 million towards the development of electric and
hybrid vehicles in the country. If the plans materialise, the shift to
electric vehicles could potentially help India save up to $300Bn (INR
20 Lakh Cr) in oil imports and nearly one giga-tonne of carbon dioxide
emissions by 2030, according to a recent report by FICCI and Rocky
Mountain Institute.
India’s policy on electric vehicles
The first step taken by the Indian government to bring electrically-
powered vehicles into the mainstream was the National Electric
Mobility Mission Plan (NEMMP) 2020. Launched in 2013, the plan
aims to achieve national fuel security by promoting hybrid and electric
vehicles in the country. According to the plan, the government not
only wants to reduce the country’s fuel dependency on
imports but ultimately help lower greenhouse gas
(GHG) emissions in India.
To this end, the Indian government and
the automotive industry agreed to jointly
invest up to $3.4 Bn (INR 23,000Cr)
to develop a robust EV ecosystem
in India. Of this, the government
committed to pump up to $2.1
Bn (INR 14,000 Cr) over the
next five to six years, with
the remaining coming
from the auto industry.

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