EVs to cost same as petrol vehicles in 6 months: Gadkari

Union Road Transport and Highways Minister Nitin Gadkari on Monday said the prices of electric vehicles (EVs) in India were expected to be on par with those of petrol-powered vehicles within the next four to six months.

He said India’s dependence on fossil fuels was both an economic burden, as Rs 22 lakh crore was annually spent on fuel imports and an environmental hazard, making clean energy adoption crucial for the country’s progress.

“Within the next 4-6 months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles,” Gadkari said, while addressing the 20th FICCI Higher Education Summit 2025.

Furthermore, the minister said, “Within five years, our target is to make India’s automobile industry the No.1 in the world.”

“When I took charge as the transport minister, the size of the Indian automobile industry was Rs 14 lakh crore. The size of the Indian automobile industry now is Rs 22 lakh crore,” Gadkari said.

Currently, the size of the US automobile industry is Rs 78 lakh crore, followed by China (Rs 47 lakh crore) and India (Rs 22 lakh crore). Gadkari pointed out that farmers had earned an additional Rs 45,000 crore by producing ethanol from corn.

Furthermore, he said, “We have initiated a programme, under which we aim to use the entire segregated solid waste in the country in road construction by 2027, thereby creating value from the waste.”

Highlighting the importance of higher education and skill development, the minister said a futuristic vision for development with appropriate knowledge was the need of the hour, and India’s strength lied in its young, talented and skilled manpower compared to any other nation.