New Delhi: Electric Vehicle Prices Expected to Align with Petrol Models Soon
Union Minister for Road Transport and Highways, Nitin Gadkari, announced on Monday that prices of Electric Vehicles (EVs) in India are projected to match those of petrol-powered vehicles within the next four to six months. Speaking at the 20th FICCI Higher Education Summit 2025, Gadkari emphasized the urgency of transitioning to clean energy. He highlighted that India’s annual expenditure on fuel imports stands at a staggering Rs 22 lakh crore, a factor that presents both significant economic and environmental challenges.
Ambitious Goals for the Automobile Sector
Gadkari outlined his ambitious aspirations for the automobile industry, stating, “Within five years, our target is to make India’s automobile industry the number one in the world.” He drew attention to the substantial growth of the sector since he assumed the role of Transport Minister. At the beginning of his tenure, the industry was valued at Rs 14 lakh crore, but it has since surged to Rs 22 lakh crore.
As it stands, the United States holds the title of the largest automobile market, valued at Rs 78 lakh crore, followed by China at Rs 47 lakh crore, with India currently in third place.
Sustainable Initiatives and Ethanol Economy
The Minister also highlighted successful initiatives aimed at promoting alternative fuels and improving waste management. He noted that farmers have collectively earned an additional Rs 45,000 crore through ethanol production from corn. Furthermore, the ministry has introduced a program designed to utilize all segregated solid waste in the country for road construction by 2027, thereby creating value from waste materials.
Emphasis on Education and Skill Development
Concluding his address, Gadkari stressed the critical role of higher education and skill development in fostering national progress. He pointed out that India’s considerable advantage lies in its young, talented, and skilled workforce compared to other nations. He urged educational institutions to incorporate successful innovative technologies in their curricula, aiming to integrate practical applications that would better equip students with the necessary education and skills for future challenges.
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