India is rapidly emerging as a major hub for electric mobility, especially in the two- and three-wheeler segments. With a strong push from central schemes such as PLI Auto, PLI ACC, FAME, and PM e-Drive, the country is laying the groundwork for a robust electric vehicle (EV) ecosystem. Industry group India Energy Storage Alliance (IESA) has welcomed the government’s newly announced SPMEPCI policy, aimed at boosting domestic EV manufacturing. The alliance sees the policy as a key catalyst for the growth of electric four-wheelers and the broader clean mobility sector.
According to estimates by Fortune Business Insights, India’s EV market is expected to touch USD 117.78 billion by 2032, growing at a CAGR of 22.4%. The government’s new EV guidelines under SPMEPCI are seen as a timely move to support this growth.
IESA also announced that the upcoming India Energy Storage Week (IESW) 2025, set to take place from July 8–10 at the Yashobhoomi Convention and Expo Centre in New Delhi, is expected to draw over 200 EV makers from around the world. The event will include participation from over 1,000 companies and 150 exhibitors from countries including the U.S., Germany, France, South Korea, Israel, and the U.K.
The new policy has drawn praise from Gurusharan Dhillon, Director of eMobility at Customized Energy Solutions, who highlighted its emphasis on linking investment incentives with domestic value addition and R&D in areas like software, testing, and charging networks. He believes these factors will be critical in integrating advanced global tech into India’s manufacturing base and strengthening the EV supply chain.
IESA President Debmalaya Sen called the policy “a game-changer” that aligns with India’s industrial transformation goals. He emphasized that while progress will take time, events like IESW will help attract the needed foreign investment and technology partnerships to drive the sector forward.
IESA is also working with state governments including Gujarat, Odisha, Telangana, and Chhattisgarh to boost the reach and impact of IESW 2025. The focus will be on fostering innovation, advancing clean energy technologies, and upgrading the existing EV ecosystem. As a leading platform in the sector, IESA continues to promote e-mobility, energy storage, and green hydrogen by working with industry, researchers, and policymakers to accelerate adoption and market growth.
