Union Road Transport and Highways Minister Nitin Gadkari on Monday said that the prices of electric vehicles (EVs) in India are likely to match those of petrol-powered vehicles within the next four to six months, as the government pushes for wider adoption of clean mobility. Speaking at the FICCI Higher Education Summit, the minister noted that India’s annual fuel import bill of Rs 22 lakh crore was both an economic burden and an environmental challenge, making a shift towards green energy vital for the country’s growth.
Gadkari added that within the next five years, the government aims to position India’s automobile industry as the largest in the world. When he took charge as transport minister, the industry was valued at Rs 14 lakh crore, which has now grown to Rs 22 lakh crore.
Currently, the size of the US automobile industry stands at Rs 78 lakh crore, followed by China at Rs 47 lakh crore, while India is placed third with Rs 22 lakh crore, he said. The minister also highlighted the role of farmers in this transition, noting that they have earned an additional Rs 45,000 crore by producing ethanol from corn, thereby contributing to the nation’s energy security and reducing reliance on fossil fuels.
Last month, the minister launched India's first "hydrogen highways", accelerating the country's green hydrogen initiatives.The project involves setting up hydrogen fuelling stations along strategic national highway corridors to support long-haul hydrogen-powered freight.
The fuel of the future is hydrogen, and we have now started the first extensive hydrogen truck trials in history. "A budgetary allocation of Rs 500 crore has been sanctioned to five consortia across ten routes, with 37 vehicles participating," Gadkari stated during the event.
These trials will be supported by the establishment of nine hydrogen refuelling stations. He went on to say that these corridors will be India's first hydrogen highways, establishing the framework for long-distance, clean transportation.
He emphasised the need for India to immediately lessen its reliance on imports of crude, which currently account for 87 per cent of demand and cost the country close to Rs 22 lakh crore a year.