TL;DR
India's EV market is forecast to reach ₹20 lakh crore and generate 5 crore jobs by 2030, according to Union Minister Nitin Gadkari.
Union Minister Nitin Gadkari announced that India's electric vehicle (EV) market is projected to grow to ₹20 lakh crore (approximately US$ 209.55 billion) by 2030, with the potential to create five crore jobs. Speaking at a summit, Gadkari highlighted that 57 lakh electric vehicles are currently registered in India, representing a 7% market penetration.
He also mentioned that while India has an annual demand for one lakh electric buses, the current manufacturing capacity is only 50,000-60,000 units. The government's goal is to make India's automobile industry the world's largest within five years, leveraging skilled manpower and competitive costs.
