India's electric vehicle market is witnessing rapid growth, with EV sales increasing 46-fold since 2016. The government projects the market to reach USD 191.04 billion by 2034, supported by rising investments, battery production, charging infrastructure and growing exports
An SBI Research report states that hitting a 20% EV adoption rate by 2030 could slash India’s fuel import bill by ₹1 lakh crore. Driven by West Asia geopolitical tensions, EV registrations are projected to cross 25 lakh in 2026
