EVs development adoption to play major role in India's transition to low carbon economy: DPIIT Secy
- IBEF
- January 23, 2024
The aspiration to position India as a developed nation by 2047 encompasses a significant pivot towards electric vehicles (EVs), underpinned by a strategic framework involving tax incentives, Production Linked Incentive (PLI) schemes, and the mandatory establishment of charging infrastructure, as articulated by a senior government official on Monday. Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), Mr. Rajesh Kumar Singh, emphasized that the evolution and widespread adoption of electric vehicles represent a pivotal component of India's transition towards a low-carbon economy.
He highlighted the overarching vision for 2047, elucidating a substantial paradigm shift towards electric vehicles across diverse segments, supported by the implementation of tax incentives, PLI schemes, and the imperative provision of charging infrastructure. He underscored that a strategic realignment in the modal share of freight from road to rail is a potent lever to decarbonize the freight transport sector. Additionally, He noted that the government's approval of 100% Foreign Direct Investment (FDI) for renewable power projects reaffirms the nation's unwavering commitment to sustainable development.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
