The Union Minister for Heavy Industries and Steel, HD Kumaraswamy, stated that the government is dedicated to developing India’s EV ecosystem, supporting manufacturing, and encouraging sustainable growth.
The Prime Minister’s goal for “Viksit Bharat 2047” and reaching net zero by 2070, according to Kumaraswamy, “guides our mission at the Ministry,” according to an IANS report from a post-budget webinar held in New Delhi.
“We are dedicated to developing the Indian ecosystem, supporting domestic manufacturing, and encouraging sustainable growth through important initiatives like advanced capital good schemes, PLI, FAME, and EMPS,” IANS stated.
An investment of Rs 778 crore has been made under the EMPS Scheme to support EV manufacturing, particularly for two and three wheelers. By 2030, India is slated to have roughly 50 million electric vehicles (EV) on the roads, with a market size expected to touch USD 48.6 billion.
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