NEW DELHI, 20th March 2024
Dr. Hanif Qureshi, IPS, Additional Secretary of the Ministry of Heavy Industries, served as the keynote speaker at today’s Niti Aayog Conference on Electric Vehicles (EVs), where he underscored the critical importance of a sustainable transportation future.
During his address, Qureshi noted the impressive growth potential of the EV market in India, stating, “India is anticipated to experience a remarkable compound annual growth rate (CAGR) of 49% from 2022 to 2030.
This expansion is crucial not only for economic advantages but also for meeting significant environmental objectives. By 2030, India is projected to achieve a 30% market share in EVs and aims for net zero emissions by 2070.”
The conference also highlighted several key achievements, including the Ministry of Heavy Industries’ e-bus initiative. Under the FAME II scheme, 6,862 e-buses have been deployed nationwide, with the PM E-DRIVE program set to support an additional 14,000 e-buses, marking a transformative step for public transportation.
Furthermore, various government initiatives have collectively invested approximately $15 billion in electric mobility over the last nine years. Dr. Qureshi emphasized that local manufacturing is crucial for lowering costs and boosting the global competitiveness of Indian EVs.
Best practices discussed at the event included promoting collaboration among stakeholders to develop a robust EV ecosystem, enhancing charging infrastructure, and introducing innovative financing models to facilitate EV adoption. The conversations highlighted the necessity for a stable policy framework and the integration of cutting-edge technologies to advance sustainable mobility in India.
