Key Messages

The Indian automobile industry is currently valued at USD 108 billion. The Government of India has undertaken considerable strides (through purchase subsidies and auto production-linked incentive scheme, among others) to facilitate the green transition of the well-established domestic automotive industry and promote EV uptake. As a result of such initiatives, more than 28 lakh EVs are plying on road as of July 2023. At this juncture, it is crucial to assess the impact of current EV policies and deliberate on their future.

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Policy reforms to drive future of EVs in India