NITI Aayog on Monday launched its report titled “Unlocking a $200 Billion Opportunity: Electric Vehicles in India,” which provides a comprehensive assessment of the current challenges and strategic recommendations needed to accelerate India’s transition to electric mobility.
The report was released by Rajiv Gauba, Member, NITI Aayog, in the presence of B. V. R. Subrahmanyam, CEO, NITI Aayog, Kamran Rizvi, Secretary, Ministry of Heavy Industries, O. P. Agarwal, Distinguished Fellow, NITI Aayog, and Sudhendu Sinha, Programme Director – E-Mobility, NITI Aayog, along with other dignitaries.
India aims to achieve a 30% share of electric vehicles in total vehicle sales by 2030. EV sales in the country have increased significantly – from 50,000 units in 2016 to 2.08 million in 2024 – compared to global EV sales rising from 918,000 in 2016 to 18.78 million in 2024. While India’s transition started slowly, it has gained momentum in recent years. EV penetration in India, which was only one-fifth of the global level in 2020, has now reached over two-fifths in 2024, though the pace still requires a stronger push.
Developed through seven dedicated stakeholder consultations, the report offers actionable recommendations to overcome barriers and unlock the full potential of electric mobility in India. It highlights key challenges, identifies strategic enablers, and proposes immediate next steps to fast-track EV adoption.
Speaking at the launch, Rajiv Gauba said, “India stands at the cusp of a transformative shift in clean mobility. This report provides valuable insights and policy-aligned recommendations to overcome barriers and unlock scale.”
Echoing this, B. V. R. Subrahmanyam said, “NITI Aayog has been at the forefront of enabling the ongoing EV revolution. This report offers a timely review of current challenges alongside practical strategies to accelerate India’s EV transition.”
The report emphasizes data-driven decision-making, cross-sector collaboration, and a unified national approach as essential to unlocking the projected $200 billion opportunity in India’s EV sector.
The full report is available on the NITI Aayog website.
