Mr Shyam Arumugam, Managing Director, Industrial and Logistics Services, Colliers India

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Shyam Arumugam, Managing Director, Industrial and Logistics Services, Colliers India

“The budget speech places thrust on clean technology in public transport, with plans to develop special mobility zones for electric vehicles and the introduction of a new battery swapping policy. This is a welcome move to facilitate further growth of EVs, as India moves towards its sustainability goals. The EV space in India is likely to see investments of INR94,000 crore (USD12.6 billion) across the automotive value chain, over the next five years. A Much needed investment of additional allocation of Rs 19,500 crore for PLI for manufacturing of high-efficiency modules with priority to fully integrate manufacturing units to solar PV modules will be made to boost the domestic manufacturing of 280 gigawatts of installed solar capacity by 2030. A battery swapping policy would address the key concern for the charging infra. The policy aims to address the constraints of space in urban areas for setting up charging stations. Also since battery contributes to approx. 40% of EV input cost the same would enable faster EV adoption. This is a “game-changer” for EV adoption”.

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