New Delhi: Union Minister for Road Transport and Highways Nitin Gadkari on Monday announced that electric vehicles (EVs) in India are likely to cost the same as petrol-powered vehicles within the next four to six months, marking a significant shift in the country’s transition to cleaner mobility.
Speaking at the 20th FICCI Higher Education Summit 2025, Gadkari said India’s heavy dependence on fossil fuel imports, amounting to ₹22 lakh crore annually, poses both economic and environmental challenges, making the adoption of clean energy technologies essential for sustainable growth.
“Within the next four to six months, the cost of electric vehicles will be equivalent to petrol vehicles,” Gadkari stated, adding that the government’s broader goal is to make India’s automobile industry the largest in the world within five years.
Highlighting the sector’s rapid expansion, the minister noted, “When I took charge, the size of India’s automobile industry was ₹14 lakh crore; today it stands at ₹22 lakh crore.” Currently, the US automobile industry is valued at ₹78 lakh crore, followed by China at ₹47 lakh crore, with India in third place.
Gadkari also underlined the success of India’s ethanol production drive, revealing that farmers have earned around ₹45,000 crore by producing ethanol from corn—an initiative contributing to both rural income growth and fuel diversification.
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