India's EV boom could save Rs 1 lakh crore in oil imports by 2030: SBI

Jul 2, 2026 - 15:00
India's EV boom could save Rs 1 lakh crore in oil imports by 2030: SBI

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India stands to save a staggering Rs 1 lakh crore by 2030 if electric vehicles capture 20% of the market, a recent SBI report reveals. The surge in EV adoption, accelerated by geopolitical events, saw registrations jump significantly. However, the report emphasizes the urgent need to expand charging infrastructure and implement a long-term EV roadmap to sustain this growth and bolster the nation's economy.

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