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Budget 2024 expectations: EV industry pins hopes on subsidy extension and GST reforms

Prominent figures in the Indian electric vehicle industry are hopeful for GST parity for EV batteries used in swapping, lower GST rates on batteries and charging, and an extension of the FAME II subsidy program in the upcoming Interim Budget.

India s EV sales may cross 27 million by 2032 annually, CAGR likely to grow at 35%: Report

EV sale in India is projected to touch about 27.2 million units by 2032 and with a CAGR of 35 per cent from 2023-2032 under business-as-usual conditions, according to the report.

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