Facts & Future Scenario: An analytical study of Eclectic Vehicles Market in India

As per the report of PNGRB 2024, the total number of vehicles in India stands at 36.83 crore, of which 82% run on petrol and 14% on diesel. This shows that in India, 96% of vehicles run on petrol or diesel, which only 4% run on electricity or CNG. Therefore, it is evident that issues related to air pollution, greenhouse gas emissions and energy security are rising significantly across India. Compared to traditional Internal Combustion Engine (ICE) vehicles, Electric Vehicles (EVs) have emerged today as a sustainable and eco-friendly alternative. To promote electric mobility, the Government of India has launched various policies and initiatives. Especially, NITI Aayog has provided significant strategic guidance for the development of the electric vehicle ecosystem. On the basis of a literature review and drawing upon reports published by NITI Aayog and other Government report, this paper examines the development of the Electric Vehicle (EV) ecosystem in India. This study analyses trends in EV adoption, economic opportunities, future scenario, charging infrastructure, technological advancements, and policy-related challenges. Also, the research presents tables and graphs showing EV market growth, infrastructure development, and strategic objectives. The study tells that, although India has made significant steps in the field of electric mobility, robust infrastructure, technological innovation, and the effective implementation of policies are imperative to achieve the target of 30% EV adoption by 2030.