This study examines the evolving landscape of India's automotive sector in the context of the global push for net-zero emissions. As the world's third-largest automotive market, India is poised to play a significant role in this transition. The country's automotive sector is expected to experience rapid growth, with its market size projected to expand from USD 437 billion in 2022 to USD 1.8 trillion by 2030.
The study highlights the importance of diverse mobility solutions, such as electric vehicles, green hydrogen, and alternative fuels like bio-CNG and ethanol, in addressing transportation challenges and reducing greenhouse gas emissions. The Indian government's comprehensive approach to promoting green mobility, while balancing the needs of a large and diverse population of 1.4 billion people, is a key focus of this research.
Through a detailed analysis of economic, social, energy, regulatory, and technological factors, this study provides insights into the current dynamics affecting India's automotive sector and its commitment to lowering emission intensity by 45% by 2030. The study assesses the government's policies and initiatives, including incentives for manufacturers, tax breaks for consumers, and investments in charging infrastructure, and evaluates their effectiveness in promoting the growth of the electric vehicle market.
The findings of this study suggest that India has the potential to serve as a model for other countries in the Global South that are striving for sustainable transportation solutions and energy security. By sharing its experiences and initiatives, India can help to accelerate the transition to a low-carbon economy and promote sustainable development globally.
Overall, this study provides a comprehensive analysis of the opportunities and challenges facing India's automotive sector as it transitions towards a more sustainable and low-carbon future. The findings and recommendations of this research can inform policy and decision-makers, both in India and globally, and contribute to the development of more effective strategies for promoting sustainable transportation solutions and reducing greenhouse gas emissions.