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(GIST OF SCIENCE REPORTER) ELECTRIC VEHICLE OPPORTUNITY
(GIST OF SCIENCE REPORTER) ELECTRIC VEHICLE OPPORTUNITY
(SEPTEMBER-2025)
ELECTRIC VEHICLE OPPORTUNITY
NITI Aayog unveiled a landmark report – “Unlocking a $200 Billion Opportunity: Electric Vehicles in India”.
Key highlights:
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	The report estimates that India’s EV sector could generate up to $200 billion by 2035, creating jobs, enhancing manufacturing, reducing oil dependence, and lowering emissions. 
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	EV sales have grown exponentially: from about 50,000 units in 2016 to over 2 million in 2024. 
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	Globally, EV adoption has risen 20-fold in a decade, and India’s adoption level has moved from one-fifth of the global average in 2020 to two-fifths in 2024. 
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	The government has set the EV30@30 target—to achieve 30% of total vehicle sales as electric by 2030. 
Challenges in EV Adoption
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	High upfront costs of EVs compared to internal combustion engine (ICE) vehicles. 
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	Charging infrastructure gaps, particularly in tier-2 and tier-3 cities. 
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	Battery supply chain and localization issues, with heavy reliance on imports. 
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	4. Financing barriers, especially for electric buses and trucks. 
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	5. Technology & R&D gaps, where India lags behind global leaders. 
Way Forward
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	Shift from Incentives to Mandates: Move beyond subsidies and adopt regulatory measures such as EV purchase mandates, stricter emission norms, and disincentives for ICE vehicles. 
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	Innovative Financing Models: Encourage battery leasing, pay‑per‑use models, and dedicated EV financing lines for buses, trucks, and fleets. 
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	Strengthen Charging Ecosystem: Establish city-level EV hubs and ensure nationwide charging coverage with both fast and slow chargers. 
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	Boost Domestic Manufacturing: Invest in local production of batteries, motors, and components to reduce import dependence and generate jobs. 
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	R&D and Innovation: Promote indigenous technology development in areas like solid-state batteries, recycling, and smart charging solutions. 
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	Public Transport Electrification: Prioritize e-buses and e-rickshaws to maximize impact on emissions and urban mobility. 
State‑Centric Implementation: Use IEMI rankings to encourage healthy competition among states, offering incentives for frontrunners and support for laggards.
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Courtesy: Science Reporter
 
        

