India's Bold EV Charge: Rs 16,000 Crore Investment for a Greener Future

India needs Rs 16,000 crore by 2030 for public EV charging infrastructure, targeting over 30% electrification. Key cities, regulatory support, and standardized GST rates are pivotal. FICCI emphasizes enhancing profitability and scaling, especially post-FAME II scheme, while promoting local EV production.

India is set to invest a staggering Rs 16,000 crore by 2030 to expand its public EV charging infrastructure, aiming for over 30% vehicle electrification. The ambitious target comes as a cornerstone of the FICCI 'EV Public Charging Infrastructure Roadmap 2030' report unveiled Monday.

The report stresses the importance of prioritizing the top 40 cities to bolster public charging networks, predicting these urban centers will lead the electric vehicle (EV) adoption wave in the forthcoming 3-5 years, courtesy of favorable policies and rising EV adoption rates.

Additionally, India is aligning its regulatory framework to fuel EV growth, highlighted by the new PM E-DRIVE scheme post-FAME II, offering financial incentives to stimulate demand. FICCI also pushes for standardized tax rates across the EV ecosystem to aid local production and boost uptake.

(With inputs from agencies.)