ElectricVehicles growth anywhere in the world is fascinating. Also taking a look at Growth of EV Market in India
Rapid Growth: India’s EV market is expected to grow at a compound annual growth rate (CAGR) of 90% to reach $150 billion by 2030⁶.
Government Targets: India aims to achieve 30% EV sales in private cars, 70% in commercial vehicles, 40% in buses, and 80% in two-wheelers and three-wheelers by 2030⁶.
Sales Surge: In 2023, EV sales in India increased by 49.25%, reaching 1.52 million units⁶.
Charging Infrastructure: As of February 2024, there are 12,146 operational public EV charging stations nationwide, with Maharashtra having the highest number.
Market Value: The Indian EV market is projected to expand from $3.21 billion in 2022 to $113.99 billion by 2029, with a 66.52% CAGR.
Employment: The EV industry is expected to create around 50 million direct and indirect jobs by 2030.
IncreasedTax for Hybrid and EVs: The Indian government maintains a significant tax difference to promote electric mobility, with electric cars taxed at 5% and hybrid cars at 48%.
Originally published on LinkedIn on 2024-09-05 17:27:41: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A60128-7237511723660828673
NamasteRapidIndia Centre Working On Rapid Mission To Supercharge Manufacturing
Objective:
Rapid aims to boost local value addition in manufacturing.
It encourages private sector innovation and research and development (R&D).
Focus Sectors:
Key sectors include automobiles, electronics, electronicComponents, medical devices,# drones, defense, aerospace, and space technology.
EconomicImpact:
Manufacturing currently contributes 17% to India’s economy (up from 14.4% in FY21).
The target is 25% by 2025 to raise wages and fuel economic growth.
Three-Tiered Goals:
Rapid sets short-term (two years), mid-term (five years), and long-term (decadal) strategies.
Implementation:
An R&D scheme under Rapid has already been approved by key government departments.
Discussions are ongoing across various ministries.
Steering Committee:
Rapid is housed under India’s existing Steering Committee for Advanced Local Value-Add and Exports (SCALE).
PawanGoenka, former CEO of Mahindra & Mahindra and current chairman of In-Space, leads the committee.
https://lnkd.in/dyA9YTvh
Originally published on LinkedIn on 2024-08-29 11:39:27: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A60128-7234887374336348160
NamasteRapidIndia Centre Working On Rapid Mission
Objective:
Rapid aims to boost local value addition in manufacturing.
It encourages private sector innovation and research and development (R&D).
Focus Sectors:
Key sectors include automobiles, electronics, electronicComponents, medical devices,# drones, defense, aerospace, and space technology.
EconomicImpact:
Manufacturing currently contributes 17% to India’s economy (up from 14.4% in FY21).
The target is 25% by 2025 to raise wages and fuel economic growth.
Three-Tiered Goals:
Rapid sets short-term (two years), mid-term (five years), and long-term (decadal) strategies.
Implementation:
An R&D scheme under Rapid has already been approved by key government departments.
Discussions are ongoing across various ministries.
Steering Committee:
Rapid is housed under India’s existing Steering Committee for Advanced Local Value-Add and Exports (SCALE).
PawanGoenka, former CEO of Mahindra & Mahindra and current chairman of In-Space, leads the committee.
Source / shared link: https://swarajyamag.com/economy/centre-working-on-rapid-mission-to-supercharge-manufacturing
Originally published on LinkedIn on 2024-08-29 11:38:24: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7234887107742191616
NamasteIndia’s Intangible Investment Surge: Paving the Way to a $400 Billion Future by 2030.
Rapid Growth: India has recorded the fastest growth in intangible investments from 2011 to 2020, outpacing major economies like the US, France, Germany, and the UK.
Key Drivers: This growth is fueled by strengths in software and data, new financial products, and increased investment in domestic brands.
Global Position: In 2020, India ranked 14th in absolute levels of intangible investments among 26 advanced economies.
Economic Impact: The significant increase in intangible investments, reaching approximately $200 billion USD in 2020, underscores India’s expanding role in global innovation and intellectual property.
Projections till 2030
Double in Value: Intangible investments could potentially double, reaching around $400 billion USD.
Enhanced Innovation: Continued emphasis on R&D, software development, and brand building will drive further innovation.
Global Leadership: India is poised to strengthen its position as a global leader in intellectual property and innovation.
Source / shared link: https://m.economictimes.com/news/economy/indicators/india-outpaces-major-economies-in-growth-of-intangible-investments/articleshow/112421471.cms
Originally published on LinkedIn on 2024-08-11 02:46:29: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7228230264081027072
