12/08/2026
India’s EV opportunity is increasingly becoming a manufacturing story.
Growing electric vehicle sales are only one part of the transition. The bigger industrial opportunity lies inside the vehicle — batteries, traction motors, battery management systems, inverters, power electronics and other critical components.
India’s EV components market stood at around ₹410 billion in 2025 and is projected to expand at about 38% CAGR through 2032. Yet localisation across several critical EV components remains limited, highlighting both a challenge and a major opportunity for Indian manufacturers.
The next phase of India’s electric mobility journey will therefore depend on deeper localisation, stronger R&D, technology ownership, resilient supply chains and the ability to manufacture critical systems at scale.
Read more on what could define https://ipfonline.com/news/detail/autocomponentsaccessories/indias-ev-opportunity-moves-beyond-the-showroom/19102
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