Quick Highlights:India crosses 57 lakh registered EVs with rapid sales growth across segments.EV market projected to reach ₹20 lakh crore by 2030, generating five crore jobs.Lithium-ion battery prices drop from $150 to $55 per KWh, boosting affordability.India’s electric mobility sector is entering a phase of unprecedented expansion, with official data confirming that electric vehicle (EV) sales are now outpacing petrol and diesel models across two-wheelers, three-wheelers, and passenger cars. The momentum is being driven by rising consumer adoption, favorable economics, expanding charging infrastructure, and a steep decline in global battery prices. The availability of domestic lithium reserves is expected to add further strength to the nation’s EV strategy.On Thursday, 4 December, Union Road Transport and Highways Minister Nitin Gadkari addressed the Lok Sabha and outlined an ambitious trajectory for India’s EV industry. Responding to a question from BJP MP PC Mody on the sector’s growth, he revealed that India has already registered 57 lakh electric vehicles and is witnessing faster sales in the 2024–25 period compared to conventional fuel vehicles. He emphasized that EV penetration is accelerating across all major categories, positioning the country on track to become one of the world’s largest electric mobility markets.Sharing detailed figures, Gadkari stated, “Presently, 57 Lakh EVs are registered in India. EV sales rates were faster in 2024-25. EV car sales increased by 20.8 percent, while petrol and diesel sales increased by 4.2 percent. Two-wheeler EVs increased by 33 percent, and petrol and diesel by 14 percent. Three-wheeler EVs increased by 18 percent, and petrol and diesel by 6 percent. India’s EV market has the potential to reach ₹20 lakh crore by 2030, with annual vehicle sales of ₹1 crore, creating five crore new jobs. 400 plus start-ups have begun in the electric two-wheeler market, increased by 21 percent from 2024.”This projection places the EV sector at the heart of India’s economic and industrial transformation. A potential ₹20 lakh crore market and the creation of five crore jobs signal vast opportunities across manufacturing, battery technology, software development, charging infrastructure, supply chain, and mobility services.A major factor behind the accelerated adoption of EVs is the sharp decline in the price of lithium-ion batteries—the costliest component of an electric vehicle. Gadkari pointed out that battery prices have fallen significantly over the years, making EVs more affordable for consumers while reducing the overall cost of ownership.He explained, “Lithium is very important. When we made the decision for EVs, the cost of a lithium-ion battery was $150 per KiloWatt-hour, but now it has come down to $55 per KiloWatt-hour. This is really a good indication. Good news for our country is that Jammu and Kashmir has 6 million of lithium reserves, which is six percent of the world’s total. The mining industry is working on that. We are also conducting research on lithium ion, sodium-ion, aluminum-ion, zinc-ion.”The confirmation of 6 million tonnes of lithium reserves in Jammu and Kashmir marks a crucial milestone for India, which currently depends heavily on imports for battery raw materials. These reserves could reduce dependence on foreign suppliers and strengthen the nation’s position in the global EV supply chain. At the same time, ongoing research into sodium-ion, aluminum-ion, and zinc-ion technologies shows India’s intent to diversify beyond lithium for long-term energy security.Gadkari also highlighted the future potential of hydrogen and alternative fuels, reinforcing the government’s wider strategy to cut reliance on fossil fuel imports worth ₹22 lakh crore annually. He said, “Futuristic fuel is hydrogen. Today we are importers of energy, but I’m confident under the leadership of Prime Minister Narendra Modi, under Atmanirbhar Bharat, we will be exporters… The priority of the government is biofuel and alternative fuel, because our fossil fuel imports cost ₹22 lakh crore. It creates a lot of pollution. I myself am facing a problem in Delhi.”While the EV sector captured the spotlight, the session in Parliament also included significant legislative action. Union Finance Minister Nirmala Sitharaman presented the Health Security se National Security Cess Bill, 2025 for consideration and passing in the Lok Sabha. The bill seeks to generate additional resources for national security and public health by imposing a cess on machines used in the manufacture of certain goods, including pan masala and any other products that may be notified by the Central Government. The bill was officially passed on 5 December 2025.This move reflects the government’s commitment to strengthening healthcare and security infrastructure alongside supporting large-scale industrial transitions such as the adoption of electric mobility.India’s rapid EV growth, declining battery costs, and discovery of significant lithium reserves collectively signal that the country is now entering a decisive decade of clean transportation. With policy support, manufacturing incentives, technological advancements, and a growing ecosystem of start-ups, the EV industry is poised to become a major driver of India’s economic future.