India's Path to EV Dominance: Challenges and Strategies
India's Economic Survey 2024-25 emphasizes the need for self-reliant EV supply chains and technology transfer agreements to counter China's dominance in key components. The report highlights India's progress in domestic EV manufacturing and the necessity of securing mineral resources and advanced battery technology for sustained growth.
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- India
India's Economic Survey for 2024-25 has pinpointed a critical need for the country to ensure self-reliant electric vehicle (EV) supply chains. Highlighting China's stronghold on key components and raw materials, the survey urges India to take robust measures to counteract this dominance.
The survey suggests establishing technology transfer agreements with countries also seeking diverse supply chains. Such partnerships would facilitate cost distribution and enhance India's competitive edge in the global market, crucial for the sustained growth of domestic EV manufacturing.
With a focus on advanced battery technologies and intellectual property, India must secure essential minerals. As EV demand expands, India's increasing dependence on imported components needs addressing through initiatives like the PLI Scheme for Advanced Chemistry Cell Manufacturing.
(With inputs from agencies.)