In a significant announcement, Union Road Transport and Highways Minister Nitin Gadkari declared that electric vehicle (EV) prices in India are anticipated to become comparable to those of traditional petrol vehicles within a remarkably short period of four to six months.
Gadkari underscored the critical need for India to embrace clean energy. He explained that the nation’s reliance on fossil fuels not only poses a substantial economic strain, with an annual fuel import bill of ₹22 lakh crore, but also presents a serious environmental threat. Therefore, a swift transition to clean energy sources is vital for India’s sustainable development.
Reiterating his projection at the 20th FICCI Higher Education Summit 2025, Minister Gadkari firmly stated, “Within the next four to six months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles.”
Looking ahead, the Minister outlined an ambitious goal: “Within five years, our target is to elevate India’s automobile industry to the number one position globally.”
He highlighted the impressive growth already achieved, noting, “When I assumed office as Transport Minister, the Indian automobile industry was valued at ₹14 lakh crore. Today, it has surged to an impressive ₹22 lakh crore.”
For context, the current global leaders are the U.S. automobile industry, valued at ₹78 lakh crore, and China, at ₹47 lakh crore, with India actively closing the gap.
Beyond EVs, Gadkari also cited the success of ethanol production, revealing that farmers have collectively earned an extra ₹45,000 crore by converting corn into ethanol, showcasing the economic benefits of sustainable alternatives.
Moreover, the Minister announced an innovative program to tackle waste management: “We have launched an initiative to utilize all segregated solid waste across the country in road construction by 2027, effectively transforming waste into valuable resources.”
Emphasizing the pivotal role of education, Gadkari stressed the importance of higher education and skill development. He stated that a forward-looking vision, coupled with relevant knowledge, is essential for progress. India’s greatest asset, he noted, is its vast pool of young, talented, and skilled manpower, unmatched by other nations.
“This incredible demographic dividend is a huge advantage for India. By providing our youth with the right education and skills, we can undoubtedly achieve global leadership,” he affirmed.
Finally, the Minister urged higher education institutions to integrate and adopt successful innovative technologies into their curricula, ensuring practical application to bolster India’s future strategic planning and development.