India’s Auto Sector Gears Up for Green Mobility Revolution, PM Modi’s Vision Propels EV Boom: Record Sales in 2024
Union Minister Kumarswamy Highlights PM Modi’s Role in Transforming the Auto Sector
BNH NETWORK
New Delhi -The 13th Auto Summit, hosted by the Federation of Automobile Dealers Associations (FADA), showcased India’s rapid progress in sustainable mobility. Union Minister of Heavy Industries H.D. Kumaraswamy, addressing the event, praised the nation’s achievements in revolutionizing its auto sector under Prime Minister Narendra Modi’s visionary leadership. With the theme “Safe, Efficient & Sustainable: Shaping Tomorrow’s Mobility,” the summit highlighted the country’s growing emphasis on green and efficient transportation solutions.
“It is a privilege to engage with key stakeholders of India’s thriving automotive industry. The theme reflects the pillars that will shape the future of mobility,” Kumaraswamy said.
India’s Automotive Sector Achieves New Milestones
Kumaraswamy underscored the sector’s stellar performance, with 26.1 million vehicles retailed in 2024—a 9% increase from the previous year—despite global challenges. “The Indian automotive industry has consistently reached remarkable milestones in both conventional and electric mobility,” he remarked.
EV Sales Hit Record High
The event spotlighted the surge in electric vehicle (EV) adoption, with 14,08,245 units sold in 2024, a sharp rise from 10,22,994 units in 2023. EV penetration now stands at 5.59%. Kumaraswamy attributed this success to government incentives and industry innovation. “The numbers reflect growing public trust in EVs,” he noted.
Government schemes such as the Production Linked Incentive (PLI) Scheme and the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) Scheme have been instrumental. By September 2024, the PLI scheme had allocated ₹25,938 crore, spurring ₹20,715 crore in investments and generating ₹10,472 crore in incremental sales.
PM E-DRIVE Scheme: A Bold Step Forward
Kumaraswamy unveiled the PM E-DRIVE Scheme, a major initiative to accelerate green mobility with a ₹10,900 crore budget. Key features include:
Subsidizing 28 lakh electric two-wheelers, three-wheelers, e-ambulances, and e-trucks.
Supporting 14,028 e-buses.
Establishing a nationwide fast-charging infrastructure.
“These initiatives underscore the government’s commitment to sustainable growth, fostering innovation, and ensuring safety,” Kumaraswamy said.
Collaboration for Inclusive Growth
The Minister emphasized the importance of collaboration among manufacturers, dealers, and policymakers to sustain the momentum. “India stands at a pivotal point. Together, we can drive inclusive growth, build climate resilience, and position India as a global leader in green mobility,” he stated.
The summit reinforced the role of government policies like PLI, FAME-II, and PM E-DRIVE in ensuring both economic and environmental sustainability.
