The report recommends prioritizing the top 40 cities for expanding public charging infrastructure, anticipating higher EV adoption in these cities within the next 3-5 years, driven by current trends and favorable state policies.

To meet the goal of 30-40 per cent electrification by 2030, the report suggests that India needs to align demand and supply-side enablers.

The growth of EVs in India is influenced by five key factors: economics, battery advancements, regulations, consumer demand, and charging infrastructure. Government initiatives such as the PM E-DRIVE scheme offer substantial incentives to promote EV adoption. Following the expiration of the FAME II scheme, this new scheme offers incentives for E2W, E3W, and E-buses. Additionally, GST rates on EVs are set at 5 per cent, compared to 28-50 per cent for traditional vehicles.

The FICCI report also calls for GST standardisation on EV charging services to align with the tax rates across the EV value chain.