NEW DELHI: A report by NITI Aayog has said that India can save up to Rs 1.2 lakh crore in foreign exchange towards the oil imports every year by implementing a policy regime to promote electric two-wheelers. India can earn a lot of profit by converting its internal combustion engine vehicles to electric vehicles as soon as possible, the report titled ‘Zero Emission Vehicles: Towards a Policy Framework’ from NITI Aayog has suggested.
As per the report presented to Prime Minister Narendra Modi at the Global Mobility Summit ‘MOVE’, there are more than 170 million two-wheelers in India. In additional to that if each of these vehicles consumes about half a liter of petrol per day, the total amount of petrol used by such vehicles will be about 34 billion liters.
In the next five to seven years there is a real possibility of getting this done as stated in the report. It further noted that “This would, however, require innovations, a policy regime that encourages access to latest technologies and a concerted effort by the Indian industry to achieve global competition through acquiring the necessary scale and using cutting-edge technology,”