Government of India has initiated a variety of policies to aid in the adoption of EVs throughout the nation, such as: FAME (Faster Adoption and Manufacturing of {Hybrid and} Electric Vehicles) is one such policy for boosting electric transportation, introduced at the national level in 2015 by DHI (Department of Heavy Industries). The policy is currently in its second phase of implementation as FAME-II until 31 March 2024 with a budget of INR 10,000 crores, which includes a spillover of INR 366 crore from the predecessor FAME.
The GOI is pushing the development of electric vehicles as a new industry to decarbonize the transport sector which is currently one of the biggest contributors of air pollution. By 2030, it aims at converting 30% of private automobiles, 70% of Commercial Vehicles (CVs), and 80% of two- and three-wheelers to EVs. Charging vehicles with electricity will cost way less than getting a fuel refill. As a result, there will be fewer air pollutants in the environment. All in all, electric vehicles are better in terms of energy efficiency, performance, convenience, servicing, and tax relief.
If India continues to make consistent growth, the EV industry will present a $206 billion opportunity by 2030, according to a CEEW-CEF analysis.
EV Industry as job creator of future
The Ministry of Skill Development and Entrepreneurship believes that India’s EV industry has the potential to generate 50 million or 1 crore indirect jobs in addition to 10 million or 1 crore direct jobs by 2030. FAME I and II and NEMMP (National Electric Mobility Mission Plan) have helped proliferate electric vehicles on Indian roads by creating interest and exposure.
According to Mordor Intelligence’s forecast (2022-27), the Indian electric vehicle market was estimated at USD 1,434.04 million in 2021, and, by 2027, it is anticipated to have grown to USD 15,397.19 million at a CAGR of 47.09%.
The doubly increasing car users, as the Indian Blue Book (IBB) also reports in 2022, mean a massive ecosystem of OEMs and component companies. Consequently, millions of jobs in electric transportation can be created and still be expected to rise further in demand.
The EV market presents a paradigm shift in the structure of jobs, calling for new knowledge and skill sets. In this industry, some of the new work requirements fall in the following functional areas:
- Scientific Research
- Design and Development
- Manufacturing
- Infrastructure
- Servicing
To enter these areas of work, there are various types of job-based prospects such as:
Chemical/materials/industrial/electrical/electronics engineers, mechanical drafters/technicians, software developers, commercial/industrial designers, equipment/engine/team assemblers, machinists, computer-controlled machine tool operators, industrial production managers, powerline installers and repairers, electricians, mechanics, technicians, etc.
Why the EV Market Must Expand in India
India is the third largest oil importer in the world. In 2022, it imported 212.2 million tonnes of crude oil amounting to $119.2 billion which was the highest since FY14 in the value terms.
While on one side, there are over 400 million Indians about to demand automobile solutions, on the other side, there is an immediate need for a transportation revolution to happen all through. The increased demand alludes to more, perhaps a multiple times higher number of, vehicles plying about. This will inevitably correspond to enormous elevation in consumption of fuel that is costly, imported, and a leading cause of poisonous emissions into the Earth’s atmosphere.
Added to this is the import of EV Lithium ion cells/batteries from China which is taking a toll on India’s mission of ‘Make In India’ and its revenue. In addition, these cells/batteries are highly sensitive to chemicals, making them susceptible to explosions and hence, a risk to lives. Proper research needs to be undertaken to produce temperature resistant cells that do not get affected by overheating or over-charging. Along with this, they need to be highly affordable for the common citizens.
More EV engineers can bring out a possible solution to this future threat. India’s industrial and talent reinforcement of the EV market segment will usher in a brighter and, more importantly, greener future for its people.