A policy directing investment towards manufacturing EVs in India will be invaluable to the growth of this emerging segment. Such a policy could augment existing policies, such as FAME, and highlight the government’s commitment to this transition. It will provide confidence to new players looking to enter this market and established auto players, alike. India’s EV segment provides a USD 206 billion opportunity which a policy of this nature could help catalyse.
Will the proposed policy encourage domestic and international EV original equipment manufacturers (OEMs) to invest in India at scale?
As more policies encourage greater localisation of the EV supply chain, movement towards market consolidation may be seen.
Technology partnerships between domestic and international auto brands.