E-Mobility is a Huge Opportunity for India: CEO, Niti Aayog

The electric vehicle sector is a great opportunity for Indian manufactures and they should look at not only producing such models for domestic market but also exports, NITI Aayog Chief Executive Officer Amitabh Kant said. Speaking at the inaugural session of the 'Entrepreneur 2019', Kant also stressed on the road map to make India a USD 10-trillion economy by 2030.

"Electric vehicles are a sunrise opportunity as India has over 72 per cent two-wheelers; our endeavor should be to make these electric, and also manufacture EVs for the world, in India," Kant believed.

The NITI Aayog has recommended that two-wheelers below the capacity of 150cc sold in the country after March 31, 2025, should be electric ones only.

Remarking on the growing the size of economy, he said start-ups and entrepreneurship were important factors going ahead.

"India needs to grow at the rate of 9-10 per cent per annum to lift the majority of our population above the poverty line. And, this growth will not be possible unless we grow entrepreneurship," Kant said.

Globalization and urbanization are set to be at the forefront of this growth, he added.

Kant further said India needs to be open to globalization, and embrace the growing urbanization, as 30 people migrate to urban India every minute, which is a massive opportunity for start-ups.

There are a plenty of prospects developing due to urbanization, such as recycling water and waste, mass transportation, education, health care, electric vehicles and many more, he added.

Kant said that at a time when Foreign Direct Investment has fallen 13 per cent globally, in India it has grown by over 66 per cent.