July 21: The “Policy Support & Enablers to Accelerate India’s Electric Mobility” conference organized by NITI Aayog, charted an effective roadmap for the growth of electric mobility in India. Organized on the sidelines of the fourth Energy Transition Working Group (ETWG) meeting under India’s G20 Presidency, the conference brought national and international stakeholders on a common platform to showcase the growth of India’s electric mobility ecosystem and deliberate viable pathways for further growth.
The event has culminated in enriching discussions around themes such as ‘Develop Vibrant EV Ecosystem in States’ and ‘the National Electric Bus Programme’, a bold and visionary initiative that aims to revolutionize public transportation in India. Further, it has also witnessed high-level dialogues, G20 talks around Electric Vehicle Finance Innovations and Future Electric Mobility Landscape.
India’s EV market is expected to grow at an impressive compound annual growth rate (CAGR) of 49% from 2022 to 2030. India is taking rapid strides towards achieving its target of 30% EV market share by 2030. The growth of EVs will not only impact the country’s economy positively but also bring significant social and environmental benefits – accentuating India’s economic growth along low-carbon pathways, thereby facilitating our net zero vision of 2070.
In his inaugural address, Shri Suman Bery, Hon’ble Vice Chairman, NITI Aayog, said, “The Indian EV industry’s expansion serves as a catalyst for job creation, generating approximately 5 million direct and indirect employment opportunities by the end of the next decade. This presents us with a unique chance to address the dual challenges of sustainable urbanization and unemployment, ensuring a brighter future for our citizens and our planet.”
Hon’ble Chief Minister of Goa, Shri Pramod Pandurang Sawant, announced, “Starting from 2024, all new tourist vehicles will be mandated to be electric, marking a significant leap in Goa’s commitment to eco-friendly transportation. Moreover, permit holders overseeing multiple vehicles, including rental cars and bikes in Goa, will play a pivotal role in our mission by electrifying 30% of their fleet through retrofitting by June 2024.”
Shri Amitabh Kant, G20 Sherpa, emphasized the need to maintain the EV momentum in India. He said, “In line with the Prime Minister’s vision for EVs revolving around the 7 Cs – Common, Connected, Convenient, Congestion-free, Charged, Clean, and Cutting-edge, we must electrify 100% of 2-wheelers and 3-wheelers, and 65-70% of buses by 2030. A low-cost financing framework, a robust charging infrastructure, and collaborative efforts among central, state, and city authorities, all underpinned by a consistent policy framework, will shape the future of e-mobility in India.”
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