The Ministry of Heavy Industries (MHI) recently held a Post-Budget Webinar on “E-Mobility, Capital Goods, and the Way Forward” at Udyog Bhawan in New Delhi. The event, aimed at discussing the future of India’s automotive sector and electric vehicle (EV) ecosystem, was chaired by Union Minister H.D. Kumaraswamy and featured participation from Minister of State Bhupathiraju Srinivasa Varma, Secretary MHI Kamran Rizvi, and other key stakeholders.
In his keynote address, Union Minister H.D. Kumaraswamy highlighted the government’s dedication to advancing India’s EV ecosystem. “Hon’ble Prime Minister Shri Narendra Modi’s vision for ‘Viksit Bharat 2047’ and achieving net zero by 2070 guides our mission at MHI. We are committed to advancing India’s EV ecosystem, fostering local manufacturing, and promoting sustainable growth through key initiatives such as PLI, FAME, EMPS, and advanced capital goods schemes,” Kumaraswamy stated.
Minister of State Bhupathiraju Srinivasa Varma also emphasized the significance of the automotive sector in achieving India’s economic goals. “Under the leadership of Hon’ble Prime Minister Narendra Modi, India is on track to become a $5 trillion economy, with the automotive sector playing a pivotal role. The Ministry of Heavy Industries is driving innovation and self-reliance through initiatives such as the PLI Scheme for Automobiles and Auto Components. Together, we can create a sustainable and prosperous future for India,” Varma said.
The webinar included comprehensive discussions on the Union Budget 2024-25, with a focus on expanding and strengthening the electric vehicle ecosystem, including manufacturing and charging infrastructure. Participants underscored the importance of boosting the adoption of electric buses in public transport networks through secure payment mechanisms.
A significant topic during the session was the completion of indigenous technology for Advanced Ultra Super Critical (AUSC) thermal power plants, which offer higher efficiency. A joint venture between NTPC and BHEL is set to establish an 800 MW commercial plant utilizing AUSC technology, with government backing through necessary fiscal support.
Key initiatives discussed at the webinar included:
- The PLI AUTO scheme has an approved outlay of ₹25,938 crore to boost domestic manufacturing and promote localization.
- The PLI ACC scheme with an approved outlay of ₹18,100 crore for 50 GWh to enhance India’s ACC manufacturing.
- The EMPS scheme with an outlay of ₹778 crore to support EV manufacturing, particularly for two-wheelers and three-wheelers.
- The SMEC initiative aimed at attracting global EV investments with a minimum commitment of ₹4,150 crore.
- The Capital Goods Scheme, with a combined outlay of ₹2,203 crore across its two phases, is designed to stimulate investment, strengthen technological capabilities, and boost domestic manufacturing.
The webinar saw participation from various notable figures, including Adviser at NITI Aayog Sudhendu J. Sinha, officials from the Ministry of Housing and Urban Affairs, the Ministry of New and Renewable Energy, industry leaders such as Vinod Aggarwal (President, SIAM), and representatives from companies like Maruti, Mahindra, Volkswagen, Ather, IESA, Tata Motors, L&T, IEEMA, Reliance Jio BP, Adani Power, Statiq, and Tata Power.
This event marks a significant step towards achieving a sustainable and innovative future for India’s automotive and electric vehicle sectors.
