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Addressing a webinar on 'India's Electric Vehicle Roadmap post-COVID-19', Union Minister for Road Transport & Highways, Nitin Gadkari expressed confidence that India will become a major manufacturing hub for electric vehicles.
He said that the Government was also extending all the support it possibly can to the Electric Industry. He also added that the Ministry of Finance has already revised the Good and Service Tax rates for the Industry at 12 percent.
Outside of e-Rickshaws, two-wheelers account for 90 percent of electric vehicles sold in the country. In addition, a large number of electric two and four-wheeler manufacturers are scheduled to launch new EVs in the market.
The Ministry of Road Transport and Highways feels that the new launches will boost the Electric Vehicle Industry, and will accelerate the Central Government's plan of turning the country into an electric vehicle manufacturing hot-spot.
Minister Gadkari also said that the Government was aware of the challenges that the Electric Vehicle Industry was facing, but also said that challenges will be overcome once demand for electric vehicles increases.
The Ministry also said that the electric and biofuels are the way forward and have an excellent chance for mass adoption. The Government is currently working on what will be its first electric highway that will be part of the soon-to-be-ready Delhi-Mumbai Green Corridor.
Mr Gadkari also said that the Government was pushing for a switch to all electric as it feels that petroleum natural resources are slowly becoming scarce.
In a closing note, the Ministry added that as the world becomes less interested in investments in China, the opportunity is perfect for the Industry in India.
Thoughts About India Becoming An Electric Vehicle Manufacturing Hub In Five Years
Well, forgive the skepticism, but the Central Government (irrespective of who) has always made five year plans that are usually stretched over an additional five years. Yes, electric vehicles will sell, and they will be a common sight, still, there's no guarantee that demand will be high enough for the country to become a manufacturing hub. Also there's a certain Covid-19 at large and we're still no where close to 'business as usual'.