Blitz Bureau
NEW DELHI; As the Government doubles down on clean and sustainable transportation, the clean mobility ecosystem in India is expected to become a $250 billion opportunity by FY30, a new report said on July 30
By FY30, the overall mobility market in India is expected to reach $1.2 trillion, with clean and electric mobility accounting for about 20 per cent of the overall market, according to the report by Praxis Global Alliance.
“India’s journey towards electrifying its transportation sector is not just a leap towards a sustainable future but also a significant economic opportunity,” said Aryaman Tandon, Managing Partner, mobility, energy and transportation, Praxis Global Alliance.
India has an EV-to-charging station ratio of 9:1. To reach the globally acceptable standard ratio of 4:1, the government has taken multiple initiatives, including significant allocations in FAME II (over $120 million) and the reduction of GST rates on EV chargers.
“Despite challenges faced by the global EV market due to geopolitical shifts and fluctuating manufacturing costs, India remains a beacon of resilience,” the report mentioned.
