business π India's EV Market Set to Hit Rs 20 Lakh Crore
India's EV market is projected to reach Rs 20 trillion by 2030, creating about 5 crore jobs. Union Minister Nitin Gadkari stated this while at a CII-ITC Centre of Excellence sustainability summit. Currently, there are over 57 lakh registered EVs, with the market penetration at roughly 7 per cent. This growth supports India's goal of becoming a top automotive manufacturing hub in five years. The nation must boost electric bus production to meet the annual demand of nearly 1,00,000 units. π