The electric vehicle (EV) industry in India has reached a unanimous decision to forgo subsidies once the current subsidy regime concludes. 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 emphasized India’s commitment to fostering economic ties with the United States under the Trump administration, despite ongoing trade tensions. “We look forward to strengthening our economic relationship with the US, with whom we have worked in the past,” Goyal stated. This comes in the wake of remarks by the incoming US president, describing India as a “very big abuser” of trade tariffs.
Additionally, Goyal issued a cautionary note to quick-commerce companies, urging them to comply with Indian laws. This follows Blinkit’s pilot launch of a 10-minute ambulance service in Gurgaon and similar ventures in medicine delivery by other players.
Regarding the EV industry, Goyal expressed optimism about its growth trajectory. “Electric mobility in India is absolutely ready to take off,” he remarked. “During the meeting, everyone unanimously agreed that they no longer require subsidies to continue growing. 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 establishing charging stations, with oil companies assisting in oversight.
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.
