The Indian auto industry is one of the largest in the world, accounting for 7.1 per cent of the country's Gross Domestic Product (GDP). The Two Wheelers segment with 81 per cent market share is leading the Indian Automobile market due to the rising middle class and the young population of the nation. Moreover, the companies are exploring the rural markets adds to the growth in the sector.
Electric vehicles bazaar is growing worldwide fuelled by stricter environmental measures, technology developments and cost decrease in the storage of energy. It is also seen as a vital link in achieving energy transition. That explains the lead taken by the power minister, Piyush Goyal, on the electric mobility initiative despite automobiles falling under the ambit of the Ministry of Heavy Industries
Adopting EVs will not only check pollution but also lead to the reduction in fuel imports. Another worrying fact is that India is the biggest emitter of greenhouse gases just behind US and China, strives to lessen its carbon footprint by 33-35% from its 2005 levels by 2030.