The Green Bharat Summit 2024, hosted in the national capital, emerged as a pivotal event in India’s journey toward sustainability and self-reliance in electric mobility. Union Minister Piyush Goyal, in a highly anticipated keynote session, outlined India’s roadmap to becoming a global leader in the electric vehicle (EV) ecosystem.
In an exclusive interview with Bodhisatva Ganguli, Group Consulting Editor of Network18, Goyal provided an in-depth view of India’s strides in the EV sector and the nation’s broader goals for sustainable development. The session, marked by candid insights and a call to action, underscored India’s commitment to achieving Atmanirbhar Bharat (self-reliant India) in the automotive sector.
India’s Auto Sector – A Global Leader
Union Minister Piyush Goyal commenced the discussion by praising India’s robust automotive ecosystem. “India has been a success story in the global auto sector,” he said. Highlighting the strength of the nation’s value chain, he added, “From auto components to battery technology, the Indian auto industry has consistently demonstrated its ability to compete globally. This positions us well to lead the electric mobility revolution.”
Goyal pointed to the achievements showcased at Bharat Mobility, a premier EV exhibition held earlier this year, as evidence of India’s potential. “If you missed it, don’t worry,” he quipped. “The second edition in the first quarter of next year promises to be even bigger and grander.”
He described the exhibition as a testament to India’s capacity to innovate and compete globally in electric mobility. “It’s an ecosystem we should all be proud of,” he said, adding that India’s automakers, including Tata, Mahindra, and emerging players like Ola Electric, are producing world-class EVs capable of setting international benchmarks.
Tackling Challenges with Pragmatism
While optimistic, Goyal acknowledged the challenges faced by the EV sector, particularly in raw materials and battery technology. “Critical materials for batteries remain a concern, as does cell manufacturing technology. However, EVs are simpler to manufacture than internal combustion engine (ICE) vehicles,” he said. “This presents a tremendous opportunity for us to innovate and achieve Atmanirbharta in this sector.”
The minister dismissed the notion that the industry requires long-term subsidies, calling instead for a mindset shift. “Subsidies are like the kickstart of a scooter, useful to get moving, but unsustainable in the long run,” Goyal remarked. He pointed to the success of India’s LED lighting revolution as an example of how market-driven solutions can achieve transformative results.
“When I removed the subsidy on LED bulbs, many doubted the decision,” he recalled. “But that single move unlocked economies of scale, spurred domestic manufacturing, and made India the world’s fastest adopter of LED lighting.”
Moving Beyond Subsidies
Goyal made a strong case for transitioning away from a subsidy-driven EV ecosystem. “We’ve supported the industry through schemes like FAME 1, FAME 2, and the PLI initiative. However, the focus now must shift to making EVs economically viable without government support,” he stated.
Citing the reduced costs of EV ownership, including lower operating and maintenance expenses, he argued that the economic case for EVs is compelling enough to drive adoption. “The time has come for the industry to stand on its own feet and build a competitive edge,” he said.
The minister also stressed the importance of exporting Indian-made EVs to global markets. “Our domestic market is vast, but we must not become complacent,” he cautioned. “Expanding into international markets will not only enhance economies of scale but also bolster India’s global standing as a leader in electric mobility.”
Building a Comprehensive EV Ecosystem
Addressing concerns about range anxiety and charging infrastructure, Goyal praised Indian industry for its proactive efforts. “Charging ecosystems are sprouting across major cities, with innovative solutions like battery swapping gaining traction,” he said. “Petrol pumps and public parking spaces are being equipped with charging stations, ensuring accessibility for EV users.”
He called for greater collaboration between government and private stakeholders to accelerate the development of a nationwide charging network. “The transition to electric mobility requires not just vehicles but a holistic ecosystem that supports their use,” he emphasized.
A Balanced Approach to Energy Transition
When asked about alternative technologies such as hybrids and hydrogen, Goyal reiterated the government’s openness to diverse solutions. “We welcome any technology that reduces our carbon footprint,” he said. “Whether it’s ethanol-driven buses, hydrogen for commercial vehicles, or CNG, all paths contribute to the broader goal of sustainability.”
However, Goyal expressed skepticism about hybrid vehicles, noting their limited fuel savings. “Hybrids are a step forward but not a transformative solution. Plug-in hybrids with smaller batteries may be more practical,” he said, emphasizing the need for innovation to address range anxiety and affordability.
Opportunities Amid Global Shifts
The minister highlighted the strategic opportunities presented by global shifts in the EV landscape. With countries like the US and the EU imposing tariffs on Chinese EV exports, Goyal sees a chance for Indian automakers to capture global market share.
“Our manufacturers are producing world-class vehicles, from two-wheelers to passenger cars,” he said. “This is the time to be bold and aggressive in exporting Indian EVs to the world.”
He urged Indian automakers to think beyond the domestic market, cautioning against the complacency of relying solely on local demand. “To achieve global competitiveness, we need to scale up production and embrace international markets,” he said.
A Vision for Sustainable Growth
Goyal underscored the government’s commitment to sustainability, pointing to India’s record-breaking adoption of renewable energy. “We’ve already surpassed our Paris Agreement targets, achieving 45% of installed capacity from renewable sources eight years ahead of schedule,” he said.
He also defended India’s continued use of coal as a transitional energy source, framing it as a pragmatic approach to balancing economic growth and environmental responsibility. “Coal powers our homes and industries, just as it did for developed nations during their growth phases,” he said. “We’re using it judiciously while expanding renewable capacity at an unprecedented pace.”
A Call to Action for Industry and Citizens
Concluding his remarks, Goyal called on the industry to adopt a forward-looking approach and embrace innovation. “The future belongs to those who are willing to adapt and lead,” he said.
He also urged citizens to adopt sustainable lifestyles, emphasizing the power of collective action. “Mission LiFE Lifestyle for Environment, is about making small, conscious choices that reduce waste and protect our planet,” he said.
Goyal’s message resonated with the audience, leaving industry leaders, policymakers, and sustainability advocates inspired to accelerate India’s green transformation.
A Milestone for India’s Sustainable Future
The Green Bharat Summit 2024 brought together thought leaders and innovators to discuss actionable solutions for a sustainable future. From renewable energy to green technologies, the summit underscored India’s leadership in tackling global challenges.
Union Minister Piyush Goyal’s vision for an Atmanirbhar EV ecosystem and his emphasis on pragmatic policies set the tone for the nation’s green journey. As India moves toward its goal of becoming a global leader in sustainability, the Green Bharat Summit serves as a landmark event, uniting stakeholders in a shared mission to build a cleaner, greener future.
Watch the complete Green Bharat Summit 2024 below: