India's EV Charging Market Set to Reach $3.7 Billion by 2030

06 Nov 2024 CW Team

India’s electric vehicle (EV) charging market is projected to grow to $3.7 billion by 2030, driven by increasing EV adoption and the need for efficient charging solutions. The sector is expected to expand at a compound annual growth rate (CAGR) of 16%, supported by environmental concerns and fluctuating fuel prices.

Globally, the EV charging infrastructure market is also experiencing significant growth, with revenues forecast to surge from $25.9 billion in 2023 to $164 billion by 2030, reflecting a CAGR of approximately 12%.

"Fast-charging technologies and battery-swapping solutions are essential to address range anxiety and facilitate everyday EV use," said Abhishek Maiti, Director-Industrial Goods and Services at 1Lattice. Battery swapping is particularly gaining traction in India for two- and three-wheelers, with major automakers investing in the technology to enhance affordability and accessibility.

Investment in India’s EV charging infrastructure grew at a CAGR of 35% between 2018 and 2023, surpassing the global investment growth rate of 30% during the same period. The Indian government is also pushing for increased EV production and localizing supply chains to meet its target of 30% EV penetration by 2030, as noted by an S&P Global Ratings report.

To further boost the sector, the government recently introduced the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) schemE to accelerate EV adoption and establish critical charging infrastructure across the country. The initiative is seen as a crucial step toward a cleaner, more sustainable future.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..