TL;DR
A FICCI-Yes Bank report stresses the necessity for India to develop an EV export strategy to capitalize on tripling global EV sales by 2030.
A recent report by FICCI and Yes Bank highlights the urgent need for a national export strategy for electric vehicles (EVs) in India. With global EV sales projected to triple by 2030, the report, titled 'EV Market – India's Export Competitiveness,' emphasizes that infrastructure expansion and adherence to international safety, cybersecurity, battery traceability, and sustainability standards are crucial for India to secure a position in emerging global value chains.
The report, released at the 3rd FICCI National Conference on EVs, states that developing an EV export strategy will allow India to scale production, improve cost-efficiency, and foster high-quality product development through technological advancements. Union Minister for Heavy Industries and Steel H. D. Kumaraswamy affirmed that India's EV transition is integral to its net-zero target for 2070 and aligns with the 'Make in India' agenda.
