The News CartelThe News Cartel
    What's Hot

    RDI Scheme: INR 1 Lakh Crore Push for India’s Brightest Minds

    July 2, 2025

    Inviting Esteemed Advisory Board Members for the Prestigious Dadasaheb Phalke International Film Festival

    July 2, 2025

    Stone Wood Hotels & Resorts Unveils Enticing Monsoon Packages Across India

    July 2, 2025
    Facebook Twitter Instagram
    The News CartelThe News Cartel
    • Home
    • News
      • Business
      • Education
      • Entertainment
      • Health
      • National
      • Lifestyle
      • Technology
      • World
    The News CartelThe News Cartel
    Home»Technology»Can India Power Up to Its 2030 Electric Vehicle Goals? – Milan Parikh
    Technology

    Can India Power Up to Its 2030 Electric Vehicle Goals? – Milan Parikh

    Shruti JoshiBy Shruti JoshiDecember 30, 2024No Comments3 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    New Delhi [India], December 30: The Indian government has set an ambitious target: to ensure that 30% of new vehicle sales are electric by 2030. This goal is part of a larger effort to address environmental concerns, reduce carbon emissions, and promote sustainable transportation solutions. With increasing support from the government and private industry, the electric vehicle (EV) sector in India is gaining momentum. However, whether it will meet this ambitious target remains to be seen.

    The Current State of the EV Market

    India’s electric mobility sector has experienced significant growth in recent years. The country is now one of the fastest-growing EV markets globally. Projections indicate that the sector will grow at a compounded annual growth rate (CAGR) of 49% from 2021 to 2030. By 2030, India is expected to witness 17 million electric vehicles sold annually, a substantial increase from the current market size.

    As of November 2024, over 1.3 million electric vehicles have been registered, signaling growing consumer interest in EVs. This growth can largely be attributed to strong government initiatives and a shift towards sustainable transportation options.

    Government Policies Driving Growth

    The Indian government has launched several initiatives to accelerate EV adoption. The second phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) program, introduced in 2019, aims to electrify public and shared transportation by providing subsidies. The program focuses on 7,262 e-buses, 1.6 lakh e-three-wheelers, and 1.5 million e-two-wheelers, among others.

    In addition to FAME, the National Programme on Advanced Chemistry Cell (ACC) Battery Storage initiative is designed to boost domestic manufacturing of batteries, a key component for EVs. This has led to a 40% surge in the number of registered EVs in 2023 compared to 2022.

    In 2024, the government approved a $500 million EV policy to attract global manufacturers, positioning India as a hub for EV production. These policies, combined with incentives such as the Production Linked Incentive (PLI) scheme, are helping to stimulate both supply and demand for electric vehicles.

    Key Challenges

    Despite these efforts, several challenges remain. The charging infrastructure is still underdeveloped, with over 25,000 public charging stations operational, but the need for more widespread coverage remains critical for mass adoption. Furthermore, the cost of EVs remains a barrier for many consumers, as they are generally more expensive than traditional vehicles, even with government subsidies.

    Conclusion

    India’s electric mobility sector is on an upward trajectory, driven by strong government support, policy incentives, and growing consumer interest. However, to achieve the target of 30% EV adoption by 2030, India must address the challenges of infrastructure, affordability, and supply chain bottlenecks. With continued investment, innovation, and policy support, the ambitious goal is within reach, making India’s electric future increasingly likely.

    Article Written by Milan Parikh, Co Founder, Jainam Broking Limited 

    For More Detail or Feedback Please Contact or Visit: www.jainam.in

    Milan.parikh@jainam.com

    If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

    Technology
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleLifetime Award For Outstanding Contribution To Indian Perfumery Was Bestowed Upon Rajesh Gupta, VCPL
    Next Article Brahmavidya Sadhak Sangh’s Aarohan Ashram: A Retreat for Inner Peace
    Shruti Joshi
    • Website

    Related Posts

    Snohbricks Technology Elevates Enterprise Automation with SnohAI

    July 2, 2025

    Trifler – A Made-in-India App Helping People Rediscover Offline Connection And Social Detox

    July 2, 2025

    Bharat Recycling Show Launched to Drive Advancements in Commodity Recycling

    June 30, 2025
    Add A Comment

    Comments are closed.

    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    [fluentform id="4"]
    Advertisement
    Facebook Twitter Instagram Pinterest YouTube
    Top Insights
    Get Informed

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    [fluentform id="4"]
    © 2025 The News Cartel.
    • Home

    Type above and press Enter to search. Press Esc to cancel.