Gadkari Predicts EV Price Parity Soon as India Races Toward Green Mobility Revolution

Union Minister for Road Transport and Highways Nitin Gadkari announced at the 20th FICCI Higher Education Summit 2025 that electric vehicle (EV) prices in India are poised to align with those of petrol-powered cars within the next four to six months, a pivotal shift driven by advancements in battery technology, increased domestic production, and government incentives. This comes amid India's escalating fuel import bill, estimated at around $161 billion for FY25, underscoring the economic imperative for clean energy adoption.

Gadkari, a vocal advocate for sustainable mobility, highlighted how the transition not only curbs environmental hazards like air pollution but also promises long-term savings, with EV running costs at roughly ₹1 per km compared to ₹5-7 for petrol vehicles. His prediction echoes earlier statements, including a March 2025 assurance of parity within six months, reflecting rapid progress in import substitution and indigenous manufacturing.

Gadkari's vision extends beyond affordability, aiming to catapult India's automobile sector to the world's top spot within five years. He noted the industry's remarkable growth from ₹14 lakh crore when he assumed office to ₹22 lakh crore today, positioning India third globally behind the US (₹78 lakh crore) and China (₹47 lakh crore). This expansion aligns with broader economic goals, including the FAME-III scheme's push for EV infrastructure and the government's ₹11,500 crore investment in hybrid and electric vehicle manufacturing since 2019.

Recent milestones, such as FY25's record 3.1 crore vehicle production and a surge in electric three-wheeler sales to 6.99 lakh units, bolster this ambition, with projections estimating the sector's value to hit $137 billion in 2025 and grow at 8.2% CAGR to $203 billion by 2030. Gadkari emphasized recycling initiatives, like a 3% discount on new vehicles for scrapping old ones, to further reduce costs and promote circular economy principles.

Complementing the EV push, Gadkari spotlighted biofuels as a bridge to sustainability, revealing that farmers have earned an additional ₹45,000 crore annually through corn-based ethanol production. With India achieving 19.05% ethanol blending by July 2025 and targeting 20% by October, corn ethanol output has skyrocketed from 1 million tonnes in 2022 to a projected 11 million tonnes this year, fostering crop diversification and rural incomes. This initiative has already saved $15.5 billion in foreign exchange since 2014 and cut 69.8 million tonnes of CO2 emissions, while positioning India as a potential ethanol exporter inspired by Brazil's model.

As the minister urged innovation in road construction and smart transport, his roadmap signals a transformative era for India's mobility landscape, blending economic self-reliance with environmental stewardship.

Also Read: Brunei’s Massive Fitness Revolution: Thousands Rally for 5-Month Health Championship

Also Read: BSNL’s Rs 1,573 Crore 4G Revolution to Transform Jharkhand’s Connectivity