Union Road Transport and Highways Minister Nitin Gadkari announced that electric vehicles (EV) in India may reach price parity with petrol vehicles within the next 4 to 6 months, marking a significant step forward in the country’s transition to clean and sustainable mobility.
Speaking at the FICCI Higher Education Summit, the minister emphasized the economic and environmental importance of shifting away from fossil fuels, citing India’s annual fuel import bill of ₹22 lakh crore as a burden on both the economy and the environment.
India’s Auto Sector Aims for Global Leadership
Gadkari also expressed the government’s ambition to make India the world’s largest automobile industry within five years. He highlighted the sector’s impressive growth from ₹14 lakh crore to ₹22 lakh crore under his tenure, placing India third globally behind the US (₹78 lakh crore) and China (₹47 lakh crore).
To drive this transformation, the minister stressed the role of green fuels, ethanol, and EV adoption. He noted that Indian farmers have already earned ₹45,000 crore by producing ethanol from corn and other crops, contributing both to rural income and national energy security.
Hydrogen Highways and EV Infrastructure
Gadkari also spotlighted India’s green hydrogen push, including the launch of the country’s first “hydrogen highways”. These strategic corridors will support long-haul freight powered by hydrogen, backed by ₹500 crore in budget allocation across ten routes and 37 vehicles.
The project includes the setup of nine hydrogen refuelling stations, reinforcing India’s long-term infrastructure vision for clean transportation.
EV Adoption to Get Major Boost
With EV prices set to drop significantly and cleaner fuel initiatives underway, India is preparing for a massive EV uptake. The convergence of cost parity, infrastructure development, and policy support is expected to make EVs a mainstream choice for consumers, furthering India’s climate and economic goals.