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The Battery Show Logo
The Battery Show Logo

04-05-06 October 2023

India Expo Center,
Greater Noida

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Speaker presenting at conference

ADVANTAGE INDIA

Electric Cars are Finding Their Next Gear

Electric vehicle (EV) sales in India are expected to cross 9 million units by 2027 and the industry is seen creating more than 10 million direct and 50 million indirect jobs by 2030, says an IVCA-EY-Induslaw report

The EV industry attracted $6 billion in investment in 2021. This could grow to $20 billion by 2030

Electrifying Indian Mobility
  • As per NITI AAYOG- Government think tank projects EV sales in India @70% for commercial vehicles, 40% for buses and 80% for 2 and 4 wheelers by 2030.
  • EV Valuation at USD 1.4 Bn in 2021, expected to register registering a CAGR of 47.09% during the FY (2022-2027).
  • The Government has approved the Production Linked Incentive (PLI) Scheme 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage' for achieving manufacturing capacity of Fifty (50) Giga Watt Hour (GWh).
  • Enhancing India's Manufacturing Capabilities with a budgetary outlay of USD 2.3 Bn.
  • Government of India notified the Phased Manufacturing Program (PMP) to promote indigenous manufacturing of EVs and components.
  • The Union Budget for FY23 gave a major emphasis on the sector and increased the fund allocation for the FAME scheme over three-fold to USD 365 Mn.
Securing sustainable battery supply: The race is on !!

India's Battery Market is poised to grow at CAGR @ 15% by 2027, The Battery Market in India is growing at a significant growth due to the increasing demand of EV sales

India’s Annual Battery Market Could Surpass $15 Billion by 2030: NITI Aayog Report | Mercom India

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