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Fuel import bill could drop by Rs 1 lakh crore if India hits 20% EV target by 2030, says SBI Research
An SBI Research report states that hitting a 20% EV adoption rate by 2030 could slash India’s fuel import bill by ₹1 lakh crore. Driven by West Asia geopolitical tensions, EV registrations are projected to cross 25 lakh in 2026
Pulse Bharat · Why it matters
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India's potential to slash its fuel import bill by ₹1 lakh crore by 2030 through increased EV adoption could have a significant impact on the country's trade deficit and economy.