Key Highlights:
- PM Modi invites global investments in India’s expanding electric vehicle (EV) market.
- Emphasis on upgrading outdated ambulances in India with hybrid technology.
- The Indian government supports EV adoption through FAME subsidy and EMPS plan.
- PM Modi stresses the importance of the Vehicle Scrappage Policy for environmental sustainability.
PM Modi Calls for Investment in India’s Growing EV Market
On the second day of his visit to Singapore, Prime Minister Narendra Modi highlighted India’s electric vehicle (EV) market as a significant investment opportunity. During the Singapore Business Leaders’ Summit, PM Modi discussed various topics, including the need to bolster the EV sector and improve India’s medical infrastructure.
Increased Demand for EVs in India
India has seen a rise in customer demand for electric vehicles. To support this shift, the Indian government has introduced several initiatives, such as the FAME subsidy and the EMPS plan. These programs aim to boost EV production and enhance the country’s EV charging infrastructure.
At the summit, PM Modi emphasized the potential of the Indian EV market. He urged companies to invest in this sector, stating that such investments would help create a substantial new market for electric vehicles in India.
Upgrade of Medical Infrastructure
PM Modi also addressed the outdated medical infrastructure in India, particularly the ambulances currently in use. He proposed upgrading these vehicles with contemporary hybrid technology. Hybrid ambulances, which run on electricity and petrol, would reduce the risk of breakdowns due to fuel issues, ensuring uninterrupted medical services.
Vehicle Scrappage Policy for Environmental Sustainability
PM Modi also revisited the Indian government’s Vehicle Scrappage Policy, launched in 2021. This initiative encourages the replacement of outdated, inefficient vehicles with modern ones. The government currently offers incentives to customers who present a scrappage certificate when buying a new car. He stressed the importance of addressing environmental challenges through policies like this, noting the need to discard old government vehicles as part of this effort.
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ELCTRIK Speaks
Prime Minister Modi’s discussions at the Singapore Business Leaders’ Summit reflect his commitment to modernizing India’s infrastructure and fostering sustainable growth. By inviting investments in the EV sector and advocating for the upgrade of essential services like ambulances, PM Modi is steering India towards a future that prioritizes technological advancement and environmental sustainability.
