Electric Vehicles / The country's electric vehicles sector will create 5 crore jobs by 2030

Electric Vehicles: The electric vehicles (EV) market in India is growing rapidly and is expected to continue its spectacular performance in the coming years. Union Road Transport and Highways Minister Nitin Gadkari recently highlighted the tremendous potential of the sector. He informed that the EV sector will create about 5 crore new jobs by 2023. Apart from this, the potential of the Indian EV market is expected to reach Rs 20 lakh crore by 2030.

EV Sector: Pillar of Economic Growth

Gadkari informed that the size of the electric vehicle finance market can be up to around Rs 4 lakh crore by 2030. This will prove to be important for India not only from an environmental point of view but also from an economic point of view.

Air Pollution and Fossil Fuel Challenge

The transport sector is responsible for about 40% of air pollution in India. Also, the country imports fossil fuels worth Rs 22 lakh crore every year, which is a major economic challenge. India is focusing on green energy sources to reduce dependence on fossil fuels.

Emphasis on green energy

Gadkari said that 44% of India's electricity consumption is met by solar energy. The country is giving priority to energy production from green energy sources, such as solar energy, hydro power and biomass. In this direction, the demand for electric buses is also increasing rapidly. He said that India currently needs 1 lakh electric buses, but the domestic production capacity is only 50,000 buses. He urged the industry to increase its production capacity.

Expansion of Indian automobile industry

Gadkari mentioned the progress of the Indian automobile industry and said that in 2014 this industry was worth Rs 7 lakh crore, which has now become Rs 22 lakh crore. India has now become the third largest automobile market in the world, leaving behind Japan. India ranks after America and China.

Appeal to the industry

Gadkari urged automobile companies to ensure the quality of electric vehicles. He said that this is the time to expand factories and accelerate the use of green energy.

Conclusion

The electric vehicle market in India will not only give new heights to economic growth but will also play an important role in environmental protection. With the government efforts and the participation of the industry, this sector will achieve new heights in the coming years.