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NITI Aayog has released a landmark report titled ‘Unlocking a $200 Billion Opportunity: Electric Vehicles in India’, providing a comprehensive analysis of the current challenges and strategic solutions needed to boost the adoption of electric vehicles (EVs) in the country. The report was officially launched by Rajiv Gauba, Member of NITI Aayog, in the presence of B. V. R. Subrahmanyam, CEO of NITI Aayog, Kamran Rizvi, Secretary, Ministry of Heavy Industries, O. P. Agarwal, Distinguished Fellow, NITI Aayog, and Sudhendu Sinha, Programme Director – E-Mobility, among other dignitaries.
According to the report, India aims to achieve 30% electric vehicle share in total vehicle sales by 2030. EV sales in India have grown from 50,000 units in 2016 to 2.08 million in 2024, compared to global EV sales which increased from 918,000 units in 2016 to 18.78 million in 2024. While India’s EV transition started slowly, it has shown strong momentum recently—its EV penetration rose from one-fifth of the global average in 2020 to over two-fifths by 2024.
The report is the result of seven dedicated stakeholder sessions organized by NITI Aayog, aimed at identifying key barriers, strategic unlocks, and actionable recommendations. It provides a clear roadmap for data-driven decision-making and encourages cross-sector collaboration to ensure a unified national push for EV adoption.
During the launch, Rajiv Gauba said, “India stands at the cusp of a transformative shift in clean mobility. This report provides actionable insights to overcome current challenges and unlock large-scale change.” B.V. R. Subrahmanyam added, “NITI Aayog has played a leading role in India’s EV revolution. This report offers a timely and detailed review to help fast-track the country’s electric mobility transition.”
