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EV growth is driven by supportive policies
Dr Hanif Qureshi, Joint Secretary, Ministry of Heavy Industries, anticipates 26% CAGR for the electric vehicle (EV) segment till 2030 within the US$150 billion automobile sector in India.
He underscored the rapid expansion of the automobile industry, which is currently valued at approximately US$150 billion.
“This impressive growth is primarily driven by supportive policies,” he said at the 1st FICCI Awards for Excellence in Maintenance Systems and Conference on Efficient Maintenance Systems for Sustainable Industrial Growth. The awards were held 7 July 2023.
He also informed the sector stakeholders at the awards that the ministry is in consultation with industry on prolonging the FAME scheme or somehow retaining its benefits. The scheme ends in March 2024. Fiinews.com
