The India Electric Vehicle Market size was valued at around USD 5.22 billion in 2024 and is projected to reach USD 23.52 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 28.52% during the forecast period, i.e., 2025-30. The India ev industry witnessed a notable growth in the past few years, backed by several factors including rising electric vehicle companies in India, increasing environmental awareness, and E-commerce & last-mile delivery growth.

The growing awareness among people of air pollution and carbon emissions, especially in urban areas with poor air quality, fuels the demand for cleaner and safer transportation options. Also, companies that focus on sustainability goals are expanding their EV manufacturing capacities in various regions across the nation. Moreover, the expanding charging infrastructure contributes as an opportunity for the electric vehicle in India. Both the public and private sectors are heavily investing in the expansion of charging networks for various areas. The growth in charging stations makes electric vehicles in India market a more convenient and accessible choice for consumers, thereby driving the future market growth.