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Union minister, Nitin Gadkari, said that India’s electric vehicle market will create 5 crore jobs and the market could touch Rs 20 lakh crore by 2030. He also said that almost half of the air pollution in the transport sector.
According to Gadkari, who was speaking at the ‘8th Catalyst Conference on Sustainability of E-Vehicle Industry – Evexpo 2024’, “India’s electric vehicle market is Rs 20 lakh crore by 2030, creating five jobs across the EV sector. .” The EV revenue market is also expected to rise to Rs 4 lakh crore by 2030.
Mr. Gadkari said that fossil fuel is causing many problems in the country. “We import petroleum to the tune of 22 lakh crore, which is a huge financial burden. And this import of petroleum is causing a lot of problems in our country,” Gadkari said.
The government is focusing on green energy as 44 percent of India’s electricity is solar energy. He said that the most importance is being given to the production of hydro power, followed by solar power, and green energy especially from biomass.
The minister also highlighted the shortage of electric buses. He said that India needs 1 lakh electric buses but its capacity is 50,000 buses. He urged the car manufacturing companies to expand their factories without disrupting and said now is the best time to do so.
When he took over as the transport minister in 2014, the growth of the automobile sector in India was Rs 7 lakh crore, and today it is Rs 22 lakh crore. “Our number is third in the world. We just surpassed Japan,” he said. India’s auto sector is the third largest in the world, after USA (Rs 78 lakh crore) and China (Rs 47 lakh crore).
He said that India has to rise to the top in the next five years. “The future of the industry is bright. We have to compete with China in this sector. For this reason, we need better and better technology,” he said.
The ministry said that the production of lithium-ion batteries is important, and companies such as Tata, Adani and Maruti are producing batteries. India has 16,000 EV manufacturing facilities, and 2,800 are on the way.
