India's EV Revolution: Price Parity with Petrol Vehicles Imminent
Nitin Gadkari, India's Road Transport Minister, states that electric vehicle prices will match those of petrol vehicles within six months. The shift could alleviate India's Rs 22 lakh crore burden on fuel imports and boost economic progress. Gadkari aims for India to lead the global automobile industry within five years.
- Country:
- India
Union Road Transport and Highways Minister Nitin Gadkari announced on Monday that electric vehicle (EV) prices in India are expected to align with petrol-powered vehicle prices within the next four to six months.
The minister emphasized that India's heavy reliance on fossil fuels imposes a significant economic burden, with Rs 22 lakh crore annually spent on fuel imports, and poses an environmental threat, underscoring the importance of clean energy adoption.
Gadkari, addressing the 20th FICCI Higher Education Summit 2025, revealed ambitious goals to make India's automobile industry the largest in the world within five years. India's current automobile industry is worth Rs 22 lakh crore, growing from Rs 14 lakh crore since Gadkari took office, compared to the U.S.'s Rs 78 lakh crore and China's Rs 47 lakh crore industries.
The minister also highlighted that Indian farmers have gained an additional Rs 45,000 crore by producing ethanol from corn.
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