Union Minister for Road Transport and Highways, Nitin Gadkari, has announced that the price gap between electric and petrol vehicles in India will close within the next four to six months, marking a major shift in the nation’s mobility sector.
Speaking at the 20th FICCI Higher Education Summit 2025, Gadkari highlighted that India’s heavy dependence on fossil fuels is not only an economic challenge, with nearly ₹22 lakh crore spent annually on fuel imports, but also an environmental concern. He emphasized that the rapid adoption of clean and sustainable energy is essential for the country’s growth and energy security.
The Minister also shared his ambition to make India’s automobile industry the world’s largest within the next five years. When he first assumed office, the sector was valued at ₹14 lakh crore, which has now expanded to ₹22 lakh crore, placing India just behind the U.S. (₹78 lakh crore) and China (₹47 lakh crore).
Gadkari further revealed that farmers have collectively earned ₹45,000 crore through ethanol production, promoting biofuels as a parallel green alternative.
In a related initiative, he mentioned that by 2027, India aims to utilize all segregated solid waste in road construction, transforming waste management into a value-generating process.
Addressing the summit’s educational theme, Gadkari underscored the role of higher education, innovation, and skill development in achieving India’s developmental goals. He urged educational institutions to integrate new technologies and practical training into their curriculum to prepare a future-ready workforce.
“India’s biggest strength is its young and skilled manpower. If we equip them with the right knowledge and technology, India can lead the world,” Gadkari concluded.
This announcement is seen as a significant boost for the electric vehicle market, as price parity with petrol cars could accelerate EV adoption across the country.