NEW DELHI: Contrary to speculation that Prime Minister Narendra Modi might launch the much awaited electrical vehicle (EV) policy in the presence of industry stalwarts at the MOVE: Global Mobility Summit, no such announcement was made on the first day.
PM Modi, however, assured stake holders that India will come up with a stable policy soon for electric vehicles and alternative fuel-driven vehicles, but didn’t give any timeline. “Policies will be designed as a win-win for all who want opportunity in the automobile sector,” Modi said, adding that his vision for mobility in India is based on seven Cs: Common, Connected, Convenient, Congestion-free, Charged, Clean, Cutting-edge.
He further stated that India is best placed globally to be an early mover in future mobility. “India does not carry a legacy of resource-blind mobility and solutions built on the back of private car ownership, thus it gives us a window of opportunity to create an all-new seamless mobility ecosystem.”
India’s automotive industry has been asking for clarity in the way the government wants to go ahead and realize its electric vehicle ambitions for quite some time.
A day before the summit, the Society of Indian Automobile Manufacturers (SIAM) urged the government to announce a clear EV policy as setting up of an ecosystem requires large investments.
Another announcement which was expected to be made at the summit by Modi was the second edition of the Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (Fame) programme. As per reports, the finance ministry has already approved Rs 5,500 crore for the second phase, and it is only a matter of days until the second edition will come into effect.
Union transport minister Nitin Gadkari also asked auto companies for a “little change in mindsets” by giving more priority to the future, while assuring them of the government’s support. Responding to industry leaders who wanted a clear policy, Gadkari said that the government was clear in its goal to reduce imports of oil and end pollution, for which it is encouraging alternative fuel technologies like biofuels and electric mobility.