EVs Development To play Major Role in India's Transition: DPIIT Sect By CIOTechOutlook Team

EVs Development To play Major Role in India's Transition: DPIIT Sect

CIOTechOutlook Team | Monday, 22 January 2024, 08:58 IST

The vision to make India a developed nation by 2047 includes a major shift to electric vehicles supported by tax incentives, production-related incentive schemes and mandatory provision of charging infrastructure, a senior government official said. Department of Promotion of Industry and Domestic Trade (DPIIT) Secretary Rajesh Kumar Singh said the development and deployment of electric vehicles (EVs) is central to India's transition to a low-carbon economy.

"The comprehensive vision for 2047 includes a substantial shift towards electric vehicles across various segments, supported by tax incentives, Production Linked Incentive (PLI) schemes, and the mandatory provision of charging infrastructure," Singh added.

He said that a shift in the modal share of freight from road to rail will be an effective lever to decarbonise the freight transport sector.He added that the government's authorisation of 100 per cent Foreign Direct Investment (FDI) for renewable power projects underscores the nation's dedication to sustainable development. Viksit Bharat @2047 is the vision to make India a developed nation by 2047, the 100th year of independence, as per economic times.

The vision encompasses several aspects of development, including economic growth, social progress, environmental sustainability and good governance. Singh said he spoken these issues in the session and #039;Financing the Industrial Ecosystems of the Future and#039; at the recently concluded World Economic Forum (WEF) meeting in Davos.

"The agenda for the session was to discuss how public and private institutions can provide financing that will benefit the cluster partnership model in creating shared infrastructure and innovative decarbonisation projects," he said.

He added that the meeting introduced important reforms such as the Prime Minister's Gati Shakti Program and the Unified Logistics Interface Platform, which highlighted India's #039 commitment to sustainable development and strong infrastructural growth.