India’s electric vehicle (EV) industry is on a fast track to surpass the ambitious goals set by NITI Aayog for 2030. According to Haneef Qureshi, IPS and Additional Secretary at the Ministry of Heavy Industries, the sector’s expansion is moving faster than expected, supported by strong policies, rising consumer demand, and rapid manufacturing growth.
Speaking at the India EV Conclave 2025 in Delhi, Qureshi said that the EV market’s progress signals a powerful shift toward sustainable mobility. He added that India’s growth could easily exceed NITI Aayog’s projected 49% compound annual growth rate (CAGR) between 2022 and 2030.
Targets and Progress
NITI Aayog had forecasted 10 million annual EV sales by 2030, aiming for 30% overall electrification across all vehicle categories. The government expects the electric bus segment to reach 15–20% penetration by the end of the decade, working toward a 40% national target. Currently, India has about 7,000 electric buses in operation.
For passenger vehicles, the government expects around 10% electrification by 2030. Qureshi explained that NITI Aayog’s 30% goal refers to the combined figure for all types of vehicles, including two-wheelers, three-wheelers, and commercial fleets.
Strong Market Growth
India’s EV sales have increased sharply—from just 50,000 units in 2016 to 2.08 million units in 2024. This represents a 59.4% CAGR, well above the global average of 45.8%. Such growth makes India the world’s fastest-growing large EV market.
The government has introduced several initiatives to boost the industry, including the PM E-DRIVE scheme and the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI). These programs aim to strengthen local production and increase EV adoption nationwide.
Towards a Cleaner Future
The EV transition plays a key role in India’s goal to achieve net zero emissions by 2070. By switching to electric vehicles, the country aims to cut emissions intensity by 45% by 2030 and reduce its dependence on imported fuels. Encouragingly, EV adoption is now spreading from big cities to smaller towns, showing that India’s green mobility revolution has truly begun.
