PM Modi invites investments in India’s EV market: 2nd day of PM Modi's visit

Prime Minister Narendra Modi on the 2nd day of his visit to Singapore discussed various topics with his counterpart including electric vehicles (EVs), improving the infrastructure of ambulances in India and the scrappage business of old vehicles. During the Business Leader’s summit, both the representatives discussed extensively ways to establish a resilient semiconductor ecosystem in India.

The Indian automobile sector has seen an increase in customer demand for electric vehicles. Moreover, to increase customer acceptance of electric vehicles, the government has enacted the FAME subsidy and EMPS plan as incentives to improve electric vehicle production and India's EV charging infrastructure.  

Citing PM Modi at the Business Leaders’ Summit, Republic World reported, “If your companies choose to invest in this direction, it will help create a substantial new market for electric vehicles.”  

PM Modi also addressed the medical infrastructure during the Singapore Business Leaders' Summit, namely the outdated ambulances still in use in India. PM Modi calls to upgrade these ambulances with contemporary hybrid technology. Hybrid ambulances would give both options because hybrid technology uses both electricity and petrol, reducing the danger of the ambulance breaking down in the middle due to fuel issues.  

“For instance, my top priority is to replace all the old ambulances in the country with new ones, focusing on hybrid electric vehicles. This would ensure that our ambulances never have to stop due to fuel issues,” the report further cited.

The Indian government launched the Vehicle Scrappage Policy in 2021. This initiative aims to replace outdated and inefficient automobiles with newer, more modern ones. Currently, the government offers incentives to customers willing to buy a new vehicle if they can present a scrappage certificate for their older vehicle.

“We should also address environmental problems in other ways, such as through a scrapping policy. In this sense, I want to discard all outdated government vehicles. Removing these old automobiles is a significant challenge in a big country like ours,” PM Modi further said.