India’s EV market to hit ₹20L cr by 2030, create 5 cr jobs: Gadkari shares new vision at CII Summit

Union Minister Nitin Gadkari says India’s electric vehicle market could reach ₹20 lakh crore by 2030, with the potential to create 5 crore jobs. India currently has around 57 lakh registered EVs, with EV penetration at about 7%. Gadkari also said the government aims to make India’s automobile industry the world’s largest within five years. He highlighted the sector’s growth from around ₹14 lakh crore when he took charge to over ₹22 lakh crore today. India’s annual demand for electric buses stands at around 1 lakh, while current production is estimated at 50,000–60,000 buses.