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India Industry Forecast

Government Announces an Ambitious Plan to Bolster the EV ecosystem

In a transformative move towards sustainable transportation, Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman announced an ambitious plan to bolster the electric vehicle (EV) ecosystem while presenting the Interim Budget 2024-25 in Parliament today. This strategic initiative focuses on both manufacturing and charging infrastructure, aiming to fortify and broaden the landscape for electric vehicles.

With a dedicated focus on enhancing public transportation, the government is set to encourage the widespread adoption of electric buses. This will be facilitated through the implementation of a payment security mechanism, fostering confidence among e-bus operators. The initiative is expected to invigorate the public transport network, promoting an eco-friendly and energy-efficient mode of commuting.

Prime Minister Shri Narendra Modi has adopted the vision of making the country carbon neutral by 2070. Keeping this in mind, the government is committed to promoting clean and environment-friendly vehicles in the country. Ministry of Heavy Industries and the Automobile Industry are ready to play their role in this direction.

This proactive step reflects the government’s commitment to fostering a cleaner and greener future, with an emphasis on building a robust foundation for the sustainable growth of the electric vehicle industry.