EV Adoption to Save $10 Billion and Create Millions of Jobs by 2030, Says Amitabh Kant
Tuesday, 09 July 2024, 18:28 IST
Amitabh Kant, G20 Sherpa and former CEO of NITI Aayog, has underscored the imperative for a comprehensive strategy aimed at accelerating the transition to Electric Vehicles (EV) in India, predicting substantial economic benefits and job creation opportunities by 2030.
In a recent statement, Kant emphasized the need for a cohesive roadmap to bolster the adoption of EVs across the country's road transport sector. According to him, such a strategy could potentially save up to $10 billion while generating millions of jobs, positioning India as a global leader in EV manufacturing.
Highlighting the urgency of the matter, Kant proposed prioritizing the electrification of India's 50 most polluted cities by the end of the decade. He stressed that focusing on electrifying two-wheelers, three-wheelers, light commercial vehicles, and buses - major contributors to air pollution - would be pivotal in achieving this goal.
"These cities collectively account for over 40% of the nation’s vehicle registrations", Kant pointed out. "Achieving 100% electrification in new vehicle sales by 2030 in these urban centers would significantly reduce India's reliance on oil and curb tailpipe emissions".
India, known for its alarming levels of PM2.5 pollutants, ranks among the top countries globally in terms of air pollution. Kant cited transportation emissions as a major contributor, responsible for a substantial share of energy-related CO2 emissions and pollutants like PM2.5, PM10, and NOx.
The EV market in India, currently valued at $5.61 billion as of 2023, is expected to grow exponentially, reaching an estimated $50 billion by 2030. Kant projected that this growth trajectory could lead to the creation of at least 5 million direct jobs in the EV sector and up to 50 million indirect jobs across related industries.
In a recent statement, Kant emphasized the need for a cohesive roadmap to bolster the adoption of EVs across the country's road transport sector. According to him, such a strategy could potentially save up to $10 billion while generating millions of jobs, positioning India as a global leader in EV manufacturing.
Highlighting the urgency of the matter, Kant proposed prioritizing the electrification of India's 50 most polluted cities by the end of the decade. He stressed that focusing on electrifying two-wheelers, three-wheelers, light commercial vehicles, and buses - major contributors to air pollution - would be pivotal in achieving this goal.
"These cities collectively account for over 40% of the nation’s vehicle registrations", Kant pointed out. "Achieving 100% electrification in new vehicle sales by 2030 in these urban centers would significantly reduce India's reliance on oil and curb tailpipe emissions".
India, known for its alarming levels of PM2.5 pollutants, ranks among the top countries globally in terms of air pollution. Kant cited transportation emissions as a major contributor, responsible for a substantial share of energy-related CO2 emissions and pollutants like PM2.5, PM10, and NOx.
The EV market in India, currently valued at $5.61 billion as of 2023, is expected to grow exponentially, reaching an estimated $50 billion by 2030. Kant projected that this growth trajectory could lead to the creation of at least 5 million direct jobs in the EV sector and up to 50 million indirect jobs across related industries.
