The government is committed to advancing India’s EV ecosystem, bolstering manufacturing and promoting sustainable growth, the Union Minister for Heavy Industries and Steel, HD Kumaraswamy noted.
In a post budget webinar in New Delhi, Kumaraswamy noted that the Prime Minister’s vision for ‘viksit Bharat 2047 and achieving net zero by 2070 guides our mission at the Ministry, IANS said.
“We are committed to advancing India’s ecosystem, fostering local manufacturing and promoting sustainable growth via key programs like PLI, FAME, EMPS and advanced capital good schemes, IANS noted.
The EMPS Scheme has an outlay of Rs 778 crore to bolster EV manufacturing, especially for two and three wheelers.
By 2030, India is slated to have roughly 50 million electric vehicles on the roads, with a market size expected to touch USD 48.6 billion.