By exporting EVs, India can play a significant role in reducing global emissions and contribute significantly in achieving the goals outlined in the Paris Agreement
The global transportation sector is undergoing a historic transformation, driven by the shift towards sustainable mobility. Electric vehicles (EVs) are at the forefront of this revolution, gaining momentum worldwide as governments and businesses seek to curb carbon emissions and meet climate targets. This surge in EV demand presents a remarkable opportunity for Indian manufacturers to become key players in the global market.
With favourable geopolitical trends, growing acceptance of electric mobility, and increasing investments in the EV ecosystem, the time is ripe for India to establish itself as a major exporter of EVs. India surpassed the sale of 17 lakh EV units in FY2024. While there will be fluctuations in the adoption of a new powertrain, India is moving confidently toward driving the EV ecosystem. The question is not whether India is ready—but how quickly it can take the leap and capitalise on the global EV wave.
The Global Surge in EV Demand
The demand for EVs is rising sharply as countries seek to decarbonize their economies. The European Union, the United States, Southeast Asia, and the Middle East are setting ambitious deadlines to phase out internal combustion engine (ICE) vehicles and promote green mobility. Additionally, cities worldwide are placing stricter emissions controls on public and private transport, accelerating the adoption of EVs.
While electric passenger cars have taken centre stage in developed countries, the demand for electric two-wheelers and three-wheelers is increasing in developing regions. Countries with high urban density, such as Indonesia, the Philippines, and several African nations, are rapidly transitioning to electric two-wheelers for cost-efficient, sustainable transport. This trend aligns perfectly with India’s manufacturing strengths.
Fig 1: Yatin Gupte, chairman and managing director of Wardwizard Innovations and Mobility Ltd
India’s Strategic Advantage in the EV Sector
India’s expertise in producing affordable, energy-efficient two- and three-wheelers positions the country to tap into these growing global markets. The low manufacturing costs, combined with a strong network of skilled engineers, make India an ideal hub for EV production. With supportive government policies such as the Production-Linked Incentive (PLI) scheme, Indian manufacturers now have the motivation and financial backing to expand operations.
The government’s emphasis on localising EV supply chains also gives Indian companies acompetitive edge. Domestic production of key components, including batteries and chargers, will not only lower costs but also enhance product reliability, making Indian EVs more attractive to international buyers.
Overcoming Export Challenges
Despite the opportunities, exporting EVs requires navigating multiple challenges. International markets have diverse regulations, and EVs must comply with different safety and performance standards. Manufacturers need to customise their products to meet the varying requirements of each market, which requires investments in research and development.
Charging infrastructure is another critical factor. While some countries have made significant progress in building charging networks, others are still in the early stages. Indian companies entering these markets need to either collaborate with local governments and infrastructure providers or offer comprehensive battery-swapping or home-charging solutions to ensure smooth market entry.
Fig 2: Girls ride an electric scooter in Ahmedabad, India, December 30, 2018. Picture taken December 30, 2018. REUTERS/Amit Dave/File Photo
Collaborations and Strategic Partnerships: A Path to Success
Expanding into new markets also involves building strategic alliances. Partnerships with foreign governments, distributors, and technology providers can accelerate market penetration and create sustainable business models. Collaborative ventures allow manufacturers to leverage local expertise and build trust with customers, which is crucial for long-term success.
At the same time, participation in global trade shows, industry forums, and collaborative platforms will help Indian EV manufacturers establish visibility, network with potential partners, and stay updated on market trends. Developing strong relationships with international regulatory bodies will further ensure compliance with market-specific standards and smoothen the export journey.
Electric mobility is not just a business opportunity; it is also a vital component of the global effort to combat climate change. By exporting EVs, India can play a significant role in reducing global emissions and contributing significantly in achieving the goals outlined in the Paris Agreement. Countries worldwide are recognizing the importance of collaboration to further sustainable transport, and Indian manufacturers have the opportunity to lead the change in delivering eco-friendly solutions to both developing and developed markets.
With the right mix of innovation, collaboration, and policy support, India’s EV industry can seize this opportunity to build a sustainable, profitable export market. The road to global success is open, and Indian manufacturers must now accelerate their efforts to make the most of it. The future of mobility is electric—and the world is waiting for India to take the lead.
Yatin Gupte is the chairman and managing director of Wardwizard Innovations and Mobility Ltd .
