In a significant announcement on October 6, 2025, Union Road Transport and Highways Minister Nitin Gadkari projected a swift transformation in India’s automotive landscape. He stated that within the next four to six months, the cost of electric vehicles (EVs) is expected to become equivalent to that of petrol-powered cars.
Minister Gadkari underscored the critical need for clean energy adoption, citing India’s substantial reliance on fossil fuels. He highlighted that this dependence results in an annual expenditure of ₹22 lakh crore on fuel imports, posing both a massive economic strain and a significant environmental threat to the nation’s development.
Speaking at the 20th FICCI Higher Education Summit 2025, Mr. Gadkari reiterated his bold prediction: “Within the next 4-6 months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles.”
He further articulated an ambitious vision, stating, “Within five years, our target is to make India’s automobile industry the number 1 in the world.”
Reflecting on the sector’s growth, Mr. Gadkari noted, “When I took charge as Transport Minister, the size of the Indian automobile industry was ₹14 lakh crore. The size of the Indian automobile industry now is ₹22 lakh crore.”
To put India’s growth in perspective, he mentioned the current global standings: the U.S. automobile industry is valued at ₹78 lakh crore, China’s at ₹47 lakh crore, and India currently stands at ₹22 lakh crore.
Diversifying the focus, Mr. Gadkari also highlighted the agricultural sector’s contribution, noting that farmers have collectively earned an additional ₹45,000 crore through the production of ethanol from corn.
Additionally, the Minister revealed an innovative environmental initiative: “We have initiated a programme under which we aim to use the entire segregated solid waste in the country in road construction by 2027, thereby creating value from the waste.”
Emphasizing the crucial role of human capital, the Minister stressed the importance of higher education and skill development. He asserted that a forward-looking vision, coupled with relevant knowledge, is essential for progress, and India’s greatest asset is its young, talented, and skilled workforce—a significant advantage over other nations.
He affirmed, “This is a big strength of India, and by using this strength, if we are successful in giving them the right education, right skills, then we can move ahead in the world.”
Finally, Mr. Gadkari urged higher education institutions to integrate and embrace successful innovative technologies into their curricula, fostering practical applications to bolster future strategic planning.