EVs to cost the same as petrol cars within 4 to 6 months, promises Nitin Gadkari

Union Minister for Road Transport and Highways Nitin Gadkari announced on Monday that electric vehicles (EVs) in India are likely to achieve price parity with petrol-powered vehicles within the next four to six months. The statement signals a major shift in India’s automobile landscape as the country pushes towards cleaner and more affordable mobility solutions.

Speaking at the 20th FICCI Higher Education Summit 2025, Gadkari said that India’s dependence on fossil fuels not only harms the environment but also places a heavy financial burden on the economy. “ ₹22 lakh crore is spent annually on fuel imports," he noted, underscoring the urgent need for greater adoption of green energy.

India’s push for EV affordability

“Within the next 4–6 months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles," Gadkari said, suggesting that technological advancements and economies of scale are driving down production costs for EVs. The move could make electric mobility more accessible to Indian consumers, accelerating the nation’s transition towards sustainable transportation.

Ambitious goals for India’s auto sector

Gadkari also highlighted the government’s long-term vision for the automobile sector. “Within five years, our target is to make India's automobile industry the number one in the world," he stated.

He added that when he took charge as transport minister, the size of India’s automobile industry stood at ₹14 lakh crore. “The size of the Indian automobile industry now is ₹22 lakh crore," Gadkari said, reflecting strong growth despite global challenges.

India’s global position

Currently, the United States leads the global automobile market with an industry size of ₹78 lakh crore, followed by China at ₹47 lakh crore, and India at ₹22 lakh crore. Gadkari expressed confidence that India could surpass its global competitors through policy support, technological innovation, and renewable energy integration.

Farmers benefiting from green energy shift

The minister also highlighted how the renewable energy movement is benefiting rural India. He said farmers have earned an additional ₹45,000 crore by producing ethanol from corn, demonstrating how sustainable practices can enhance both environmental and economic resilience.

As India eyes leadership in the global automotive arena, the prospect of affordable electric vehicles could mark a turning point in the country’s mobility ecosystem, balancing environmental goals with consumer affordability and industrial growth.

Key takeaways

• EV prices in India are expected to match petrol vehicle prices within 4–6 months.
• India spends ₹22 lakh crore annually on fuel imports, making clean energy crucial.
• Government aims to make India’s automobile industry the world’s largest within five years.
• Industry size has grown from ₹14 lakh crore to ₹22 lakh crore under Gadkari’s tenure.
• U.S. and China currently lead the global auto industry, but India is rapidly catching up.
• Farmers have earned ₹45,000 crore from ethanol production, boosting rural incomes.

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