India is looking at having an all-electric car fleet by 2030 with the express objective of lowering the fuel import bill and running cost of vehicles. “We are going to introduce electric vehicles in a very big way. We are going to make electric vehicles self-sufficient like UJALA. The idea is that by 2030, not a single petrol or diesel car should be sold in the country,” power minister Piyush Goyal said on Saturday, speaking at the CII Annual Session 2017 in the capital.
Goyal is of the view that initially the government can handhold the electric vehicle industry for two-three years to help it stabilise. Citing the example of Maruti, which has logged over 30% profit this time, he explained that the government had supported India’s largest car maker initially, which eventually led to development of the large automotive industry in the country.
Goyal told reporters later that the ministry of heavy industries and the NITI Aayog are working on a policy for promotion of electric vehicles.The minister pointed to the cost factor, saying people would like to buy electric vehicles when they find them cost effective. About offshore wind projects, Goyal said these are more like R&D projects. The minister suggested that big PSUs, including NTPC, can initially invest in such projects, which will lead to development of this segment in coming years. Goyal said in the past three years, India’s energy consumption has grown by about 6.5% CAGR (compounded annual growth rate), more than the figure for the last 10 years.