Roads Reimagined: The Rise of India’s Electric Vehicles Ecosystem

India’s electric‑vehicle (EV) ecosystem is expanding rapidly. EV sales have risen ~46‑fold since 2016, reaching 2.3 million units in 2025, while exports grew from USD 1.2 million in 2020 to USD 84 million in 2024. Government schemes such as the National Mission on Manufacturing, the PLI‑Auto scheme, and the PM E‑DRIVE scheme (₹10,900 cr) are driving domestic manufacturing, charging‑infrastructure rollout (16,561 fast chargers out of 52,718 stations as of July 2026), and subsidies (15‑25 % capital subsidies, 5 % GST). The India Electric Mobility Index (launched 2025) tracks state‑wise progress, with Delhi, Maharashtra and Chandigarh classified as “Frontrunners”. Investment in the sector reached USD 1.4 billion in FY 2025, and the market is projected to grow to USD 191 billion by 2034 (CAGR ≈ 55 %).