EV prices to match petrol vehicles in 4 to 6 months: Union Minister Nitin Gadkari

In a major boost to India’s clean mobility vision, Union Road Transport and Highways Minister Nitin Gadkari on Monday announced that electric vehicle (EV) prices are likely to match petrol vehicle prices within the next four to six months. The development could mark a turning point for India’s automobile sector, making EVs more accessible to the masses.

A Step Toward Energy Independence

Speaking at the 20th FICCI Higher Education Summit 2025, Gadkari emphasised that reducing India’s dependence on fossil fuels is critical for both economic and environmental reasons. “We spend nearly Rs 22 lakh crore every year on fuel imports; it’s a huge economic burden,” he said, adding that the shift to clean energy and electric mobility will not only help save costs but also combat pollution.

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India’s Automotive Growth Story

Highlighting the rapid growth of the auto industry, Gadkari noted, “When I took charge as Transport Minister, the size of the Indian automobile industry was Rs 14 lakh crore. Today, it stands at Rs 22 lakh crore.” He also set an ambitious goal: “Within five years, our target is to make India’s automobile industry number one in the world.”

Currently, the global auto leaders are the US (Rs 78 lakh crore), China (Rs 47 lakh crore), and India (Rs 22 lakh crore).

Farmers Benefiting from Green Transition

Gadkari also lauded the progress in ethanol production, revealing that farmers have earned an additional Rs 45,000 crore by producing ethanol from corn.

With EV prices set to align with petrol vehicles soon, India is gearing up for a green revolution, driving towards sustainability, self-reliance, and global leadership in mobility.