India's Electric Vehicle (EV) charging infra grew five times in last three years

India’s electric vehicle (EV) charging infrastructure has witnessed remarkable growth, expanding fivefold from FY22 to early FY25, according to CareEdge Ratings. The number of public charging stations surged from just 5,151 in 2022 to 11,903 in 2023 and further to 26,367 by early FY25, reflecting a compound annual growth rate of approximately 72% over the three years. This expansion has been driven by strong central and state government initiatives, including supportive EV policies that have attracted considerable public and private investments. The rising momentum mirrors the government’s continued commitment to foster electric mobility, with various schemes helping accelerate installation across urban and semi-urban regions.

Despite the progress, a notable infrastructure gap remains, as India has only one charger available for every 235 EVs. While this underscores the rapid increase in EV adoption, it also signals an urgent need for charging infrastructure to scale proportionately. Complementary incentives like the Production Linked Incentive (PLI) Scheme for battery manufacturing and duty exemptions on key minerals are expected to reduce import dependency by up to 20% by FY27. These efforts aim to lower the overall costs of ownership and make EVs more financially accessible. However, to fully support the transition to electric mobility, a more balanced and accelerated rollout of charging stations will be essential. As demand escalates, bridging this gap will play a pivotal role in ensuring convenience and reliability for EV users across the country.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.