India's EV Penetration to Reach 30 Percent by 2030, Creating Major Opportunities for Component Manufacturers: Haryana MSME Official

Addressing the ASSOCHAM Northern Region's EV Ancillaries and Auto Components Conclave 2026 as the Chief Guest, Sh. Sanjeev Chawla, Additional Development Commissioner, MSME DFO, Karnal, Government of Haryana, said that India's electric vehicle (EV) penetration is expected to increase from around 8.5 percent currently to 30 percent by 2030. At the event that took place in Gurugram, he noted that this growth would create significant opportunities for manufacturers of EV components, including suspension systems, battery management systems (BMS), switches, wiring harnesses and BLDC motors. He urged the industry to strengthen investments in innovation, systematically document technological advancements, and secure intellectual property rights (IPR) and patents to capitalise on the expanding EV ecosystem.

The event opened with a welcome address by Sh. Sanjay Jain, ASSOCHAM Senior Industry member Haryana State Development Council, followed by an industry perspective from Sh. Rajiv K Chawla, Chairman and Founder, JaiRaj Group and Chairman, IamSMEofIndia. Sh. Abhijit Mulay, Deputy Director, Automotive Electronics and E-mobility Group, The Automotive Research Association of India (ARAI), offered the government a regulatory perspective. The conclave was attended by Sh. Mohit Garg, Deputy Director, Department of Industries and Commerce, Govt of Haryana; Sh. M K Sardana, Co-ordinator, Department of Industries and Commerce, Govt of Haryana and Sh. Ajay Mohan Goyal, Joint Director, Department of Industries and Commerce, Govt of Haryana, along with senior industry leaders, financial institution representatives and technical experts.

Sh. Sanjeev Chawla, Additional Development Commissioner, MSME DFO, Karnal, Govt of Haryana, said, "Electric vehicle penetration in India currently stands at around 8.5 percent, translating to nearly 50 lakh vehicles, and this is set to rise to 30 percent by 2030 — just four years away. This represents a massive opportunity, and enterprises must ask themselves where they can fit into the value chain, whether in suspension systems, battery management systems, switches, harnesses, or BLDC motors. To capture this opportunity, industry must invest in innovation, document it properly and file for IPR and patents, for which the government offers significant grants and incentives. Wealth creation and real growth come only through innovation — traditional manufacturing can sustain a business, but true growth demands continuous innovation, a stronger focus on quality through lean manufacturing and Industry 4.0 tools, and greater support for Indian component manufacturers so that India’s EV supply chain is built at home rather than imported."

Delivering the government address, Sh. M K Sardana, Co-ordinator, Department of Industries and Commerce, Govt of Haryana, said: "A conventional fossil fuel vehicle has nearly 2,000 moving parts, while an electric vehicle has only about 18. As per a NITI Aayog report, 30 percent of all vehicles on Indian roads will be electric by 2030 — and 2030 is not far away, just four years from now. Enterprises connected with conventional automobiles must gear up accordingly, including on the financial side, since the battery alone accounts for nearly one-third of an EV’s cost and is manufactured by very few players. The Government of Haryana recently launched its umbrella policy, Invest in Haryana 2026, personally unveiled by the Chief Minister, under which several sectoral policies were also launched — with the EV policy among the first. The EV policy launched in 2022 remains in place till 2027, and an exclusive MSME policy is expected within a month."

In his government address, Sh. Ajay Mohan Goyal, Joint Director, Department of Industries and Commerce, Govt of Haryana, said, "The future of the automotive industry will not be determined by who manufactures the most vehicles, but by who builds the most competitive electric mobility ecosystem. Haryana entered the electric mobility era from a position of considerable industrial strength, producing nearly 50 percent of all cars and 60 percent of all motorcycles made in India. Recognising this potential, electric vehicles have been identified as a thrust sector under the Haryana Industrial Policy 2026, and the state remains committed, under the leadership of Chief Minister Nayab Singh Saini, to working closely with industry to build a competitive, innovative and future-ready EV ecosystem."

The sessions brought together eminent industry experts, including Sh. Musarat Hussain, Head, Suzuki R&D Centre India; Sh. Lavnish Goyal, Researcher, ICCT; and Sh. Mukesh Malhotra, Bony Polymers, along with representatives from financial institutions and technical organisations. Discussions focused on regulatory preparedness, financing opportunities for MSMEs, export competitiveness, localisation of EV components, technology adoption, skilling, innovation and sustainable manufacturing.

Delivering the concluding remarks, Sh. Ravinder Chandla, Regional Director-North, ASSOCHAM reaffirmed the association's commitment to working closely with the Government of Haryana and industry stakeholders through policy advocacy and knowledge partnerships to strengthen the state's EV ancillary ecosystem.