Promoting Electric Two-Wheelers for Global Markets: How Amitabh Kant Sees India as a Key Player in the EV Industry

In the ongoing battle against climate change, Amitabh Kant, the G20 sherpa and former CEO of NITI Aayog, has urged Indian electric vehicle (EV) manufacturers to shift their focus towards producing electric two-wheelers for the global market. He believes that India is well-positioned to become a key player in the EV industry, given its current status as the largest exporter of two-wheelers globally.

During an event in Bengaluru, Kant emphasized the importance of an export-oriented mindset among entrepreneurs. He pointed out that while there is potential in the domestic market for EVs, an export market can yield much higher returns. Moreover, he predicted that by 2030, the entire world will transition to electric vehicles, and India should seize this opportunity to establish itself as a leader in the EV sector.

However, despite this potential, the budget allocation for the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme was reduced by the central government. This could potentially slow down the adoption of electric vehicles in India. In the previous financial year, the government allocated funds of nearly INR 4,807 crore for the FAME schemes, but this has been reduced to INR 2,671 crore for the upcoming fiscal year.

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