India to become world's biggest electric vehicle manufacturer in the next 5 years: Nitin Gadkari
India is on track to lead the world in electric vehicle manufacturing by 2030. Union Minister Nitin Gadkari announced initiatives to boost alternative fuel vehicles. The Indian automobile industry has grown significantly. Falling lithium-ion battery costs and new innovations are driving demand. Infrastructure development, such as dedicated cycle tracks, will support this growth.
Speaking at an electric cycle launch event on Monday, Gadkari expressed confidence in the future of alternative fuel vehicles and India's increasing market presence.
He stated, “When our government came to power in 2014, I spoke about electric-powered vehicles.
At that time, no one believed it, but today it’s a reality.
” Gadkari noted the growth of India's automobile industry, which has increased from a value of ₹14 lakh crore to ₹22 lakh crore.
This growth has propelled India to become the third-largest automobile market worldwide, behind the US and China.
He said, “Back then, the Indian automobile industry was valued at Rs 14 lakh crore.
Recently, it has grown to Rs 22 lakh crore, surpassing Japan to become the world’s third-largest automobile market, following the USA and China.
Now, we are aiming to be the number one manufacturer of electric-powered vehicles in the world by 2030.
” The minister attributed the rising popularity of electric vehicles, especially e-cycles, to decreasing lithium-ion battery costs.
He anticipates further demand growth due to ongoing research and innovation in battery technology.
Gadkari noted that some companies are already exporting half of their electric vehicle production, indicating strong national and international demand.
Gadkari also discussed plans for supporting infrastructure, including dedicated cycle tracks.
He highlighted the country's ₹22 lakh crore annual expenditure on fossil fuel imports and emphasized the development of alternative fuels like bio-CNG, bitumen, and aviation fuel derived from agricultural waste.
He outlined approximately 400 pollution-reduction projects aimed at converting agricultural waste into usable fuel and reiterated the government's ambition to become an energy exporter.
