NITI Aayog Launches Report on
‘Unlocking a $200 Billion opportunity: Electric Vehicles in India’
NITI
Aayog Launches EV Report: “Unlocking a $200 Billion Opportunity”
Date
Released: August 4, 2025
<Report on ‘Unlocking a $200
Billion opportunity: Electric Vehicles in India’>
Aim: To accelerate India’s Electric
Vehicle (EV) transition and address barriers through strategic policy and
industry action.
Key
Highlights
·
Target: Achieve 30% EV share of
total vehicle sales by 2030
·
Growth in Sales:
o
India: From 50,000 (2016) → 2.08
million (2024)
o
Global: From 918,000 (2016) → 18.78
million (2024)
·
EV Penetration:
o
India was at 1/5th of global levels in 2020
o
Improved to 2/5th by 2024
o
Still lags globally, signaling
need for acceleration
Report
Insights
·
Developed after 7 high-level stakeholder
consultations at NITI Aayog
·
Provides a blueprint for:
o
Identifying key challenges
o
Suggesting policy-aligned solutions
o
Offering actionable recommendations for
rapid EV adoption
·
Emphasizes data-driven decisions and cross-sector
coordination
Notable
Quotes
·
Rajiv Gauba, Member, NITI Aayog:
“India stands at the cusp of a
transformative shift in clean mobility.”
·
B.V.R. Subrahmanyam, CEO,
NITI Aayog:
“This report provides a timely review
and roadmap to fast-track India’s EV transition.”
Way
Forward
·
Calls for stronger policy push, market
enablers, and unified national action
·
Seeks to unlock a $200 billion economic
opportunity in India’s EV sector
NITI
Aayog launched the Report on ‘Unlocking a $200 Billion Opportunity: Electric
Vehicles in India,’ which presents a timely and comprehensive assessment of
current challenges while highlighting major unlocks essential to accelerate
India’s Electric Mobility transition on 4 August, 2025.
The
Report was released by Rajiv Gauba, Member, NITI Aayog in presence of B. V. R.
Subrahmanyam, CEO, NITI Aayog,. Kamran Rizvi, Secretary, M/o Heavy Industries,
O. P. Agarwal, Distinguished Fellow, NITI Aayog and Sudhendu
Sinha, Programme Director – E-Mobility, NITI Aayog among other dignitaries.
India
seeks to attain a 30% share of electric vehicles, in the total vehicles sold,
by 2030. Sale of EVs in India went up from 50,000 in 2016 to 2.08 million in
2024 as against global EV sales having risen from 918,000 in 2016 to 18.78
million in 2024. Thus, India’s transition has been slow to start, but it is
picking up. India’s EV penetration was only about one – fifth of the global
penetration in 2020, but has picked up to over two-fifth of the global
penetration in 2024. It continues to show an increasing trend, though
relatively slow. This calls for measures to give a stronger push to the EV
transition.
Developed
through extensive stakeholder consultations across 7 dedicated convenings held
at NITI Aayog, this Report has come out with multiple approaches to accelerate
India’s EV transition. To kickstart the entire effort of accelerating the
adoption of EVs, some actions have been recommended as the immediate next steps
in the Report.
The
report serves as a blueprint for accelerating India’s EV transition. It
identifies key barriers, strategic unlocks, and actionable recommendations to
accelerate EV adoption. By enabling data-driven decisions and cross-sector
collaboration, it supports a unified national push.
Launching
the report, Rajiv Gauba, Member, NITI Aayog, said that, “India stands at the
cusp of a transformative shift in clean mobility. As the nation advances its
Electric Mobility ambition, this report provides valuable insights and
policy-aligned recommendations to overcome existing barriers and unlock scale.
BVR
Subrahmanyam, CEO, NITI Aayog, added that “NITI Aayog has already been at the
forefront of enabling the ongoing EV revolution. This report offers a timely
and comprehensive review of current challenges, alongside actionable
recommendations to fast-track the EV transition in India”.