The electric vehicle (EV) industry in India has reached a unanimous decision to give up subsidies after the current subsidy regime ends. During a meeting with Commerce Minister Piyush Goyal on Friday, representatives from all sectors of the EV industry conveyed their readiness to operate without financial incentives.
Minister Goyal stressed India’s commitment to boosting economic ties with the United States under the Trump Administration, despite the ongoing trade tensions. “We look forward to strengthening our economic ties with the US, with which we have worked in the past,” Goyal said. This comes in the wake of the incoming US President’s remarks in which he described India as a “huge abuser” of trade tariffs.
Additionally, Goyal issued a warning note to instant-commerce companies, urging them to comply with Indian laws. This follows the pilot launch of 10-minute ambulance service in Gurgaon by Blinkit and similar ventures in medicine delivery by other players.
Regarding the EV industry, Goyal expressed optimism about its growth path. “Electric mobility in India is all set to take off,” he said. “During the meeting, everyone unanimously agreed that they no longer need subsidies to continue development. We are also committed to simplifying the process of setting up charging infrastructure, including at petrol stations.”
The minister proposed self-monitoring and self-certification guidelines for setting up charging stations, with oil companies assisting in inspection.
Last March, India introduced an EV policy offering duty concessions for companies investing at least $500 million in local manufacturing facilities to attract global players. According to Goyal, the industry has now progressed to a point where additional incentives are unnecessary.
