Future of India Electric Vehicle Market
The electric vehicle (EV) landscape in India is building momentum, driven by government policy, consumer awareness, and infrastructure expansion. According to , the Future of India Electric Vehicle Market was valued at roughly USD 5.22 billion in 2024 , and is projected to reach USD 23.52 billion by 2030 , growing at a CAGR of about 28.52% during 2025-2030 . Key Growth Drivers Strong Government Support Policies like FAME-II, tax incentives, registration fee waivers, and the Production-Linked Incentive (PLI) scheme are helping reduce upfront costs and encouraging local manufacturing of batteries and EV components. Environmental Concerns & Urban Pollution Growing awareness of air pollution, especially in major metros, and carbon emissions is pushing both consumers and businesses toward cleaner transport options. EVs are increasingly seen not just as transport, but as part of a larger sustainability shift. Charging In...