Addressing the Bharat Mobility Global Expo 2025, the minister said scaling in this sector will help the players to dodge the barrier to cost efficiency
Goyal urged industry players to ensure quick transition to electric mobility to achieve India’s goal of 100% electric vehicle nation
Additionally, he also urged the government bodies to invite global companies from Germany, Japan and Korea to start producing EVs in India.
Union commerce and industry minister Piyush Goyal has urged industry players to ensure quick transition to electric mobility to achieve India’s goal of 100% electric vehicle nation.
Addressing the Bharat Mobility Global Expo 2025, the minister said scaling in this sector will help the players to dodge the barrier to cost efficiency.
“For those of you who are still using petrol and diesel in your production cycles, I would hope to see a faster transition to electric mobility. We are not mandating anything, but we are encouraging faster transition and for scale in electric mobility, the moment we get scale, we will be able to cross the hump of cost effectiveness,” Goyal said.
Additionally, he also urged the government bodies, including the Department for Promotion of Industry and Internal Trade (DPIIT) and industry associations to invite global companies from Germany, Japan and Korea to start producing EVs in India.
This comes at a time when India’s EV sector is at a booming stage. In September, the Ministry of Heavy Industries (MHI) notified the INR 10,900 Cr PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.
The central government is also looking to provide subsidies for setting up two and three-wheeler charging stations. The Centre also claims that up to 80% of back-end infrastructure development cost will be subsidised under the PM E-DRIVE scheme.
It is pertinent to note that PM E-Drive Scheme which will effectively replace the FAME scheme, will have an outlay of INR 10,900 Cr for a period of two years, which is higher than the INR 10,000 Cr initial outlay of the FAME- II scheme.
On the manufacturing end, the Centre is likely to have a phased manufacturing programme (PMP) to support local manufacturing of EV components.
As per a public notification, the PM E-DRIVE initiative will include the number of vehicles and the expenditure made under the erstwhile electric mobility promotion scheme (EMPS) 2024.
