POLICIES like FAME need to be supplemented with measures such as domestic manufacturing of vehicles, batteries and components to boost mass adoption of electric vehicles by 2030, industry body CII said. Quoting a study by the Centre, the chamber said India can save 64 per cent of anticipated road-based mobility-related energy demand and 37 per cent of carbon emissions in 2030 by pursuing a shared, electric, and connected mobility future.
Measures like market creation and adoption, domestic manufacturing of vehicles, components and batteries, strategic sourcing of key raw material and skill development in India are needed to support policies like FAME to embrace mass adoption of electric vehicles by 2030, it said. This would result in a reduction of 156 million tonnes of oil equivalent in diesel and petrol consumption in 2030 and net saving of approximately USD 60 billion in 2030 at present oil prices. This is also in line with India’s vision of reducing oil imports by 10 per cent by 2022, the CII said.
Transport continues to be the highest oil consuming sector and the use of diesel and petrol grew at 5.9 per cent and 9.9 per cent respectively in the last 10 years. As per Government’s estimates, the country’s import dependency on oil has increased from 78.3 per cent of total consumption in 2014-15 to settling at a new high of 83.7 per cent in the 10-month period of FY2018-19, the chamber said.