Union Transport Minister Nitin Gadkari on Monday forecast that electric vehicles would cost the same as petrol-powered ones within half a year, a shift he said could transform India’s energy and automobile landscape.
Speaking at the 20th FICCI Higher Education Summit 2025 in New Delhi, Gadkari linked the move towards cleaner mobility with both national prosperity and environmental necessity. “Within the next 4-6 months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles,” he said.
He spotlighted the strain of fossil fuel dependence on the economy, noting that India spends around Rs 22 lakh crore annually on fuel imports. “Within five years, our target is to make India’s automobile industry the number 1 in the world,” he added.
For perspective, the Tata Nexon EV currently starts at about ₹12.49 lakh and goes up to ₹17.49 lakh for its premium variants. In contrast, a popular petrol hatchback such as the Maruti Swift ranges between ₹6.49 lakh and ₹9.64 lakh.
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Gadkari’s assertion of price parity in the coming months suggests that electric models like the Nexon would need to narrow this wide gap to align with the affordability of mass-market petrol cars.
The minister pointed to the growth of the sector under his tenure. “When I took charge as transport minister, the size of the Indian automobile industry was Rs 14 lakh crore. The size of the Indian automobile industry now is Rs 22 lakh crore,” he said.
Comparisons with global rivals revealed the distance yet to be covered. The US industry currently stands at Rs 78 lakh crore, followed by China at Rs 47 lakh crore. India, at Rs 22 lakh crore, is placed third.
Gadkari also spoke of the benefits of ethanol production to the rural economy. “Farmers have earned an additional Rs 45,000 crore by producing ethanol from corn,” he said, linking the green fuel to income growth and reduced dependence on oil imports.
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