“As the Union Budget 2024-25 approaches, the electric vehicle (EV) industry in India anxiously awaits the implementation of policies that will spur its expansion and advance the country’s e-mobility goals.
We anticipate continued support in the form of demand-side incentives, such as tax deductions for purchasers of electric vehicles and an extension of FAME-II subsidies. The development of a resilient EV charging ecosystem is of equal importance, especially in Tier II and Tier III cities, we urge the government to allocate substantial funds for the development of charging infrastructure.
The open data standards and APIs for charging networks should be prioritized in the budget as this will encourage interoperability and nurture a thriving software ecosystem by providing EV drivers with seamless access to any station, irrespective of the provider.
Additionally, we seek fiscal incentives such as tax rebates to support investments in R&D for software solutions that enable advanced charging. This will encourage innovation in areas like smart grid integration, dynamic pricing, and demand forecasting will optimize energy use and enhance charging efficiency. By placing these measures as a priority, the budget has the potential to significantly impact India’s EV revolution, thereby facilitating the transition to a more environmentally sustainable future.”
