NEW DELHI: India can save about Rs 1.2-lakh crore of foreign exchange outgo towards oil imports yearly by way of adopting a coverage regime to promote electrical two-wheelers, a report by way of Niti Aayog has stated.
India has a lot to realize by way of converting its internal combustion engine (ICE) vehicles to electrical vehicles (EVs) at the earliest, the report titled 'Zero Emission Vehicles (ZEVs): Towards A Policy Framework' suggested.
The report was presented to Prime Minister Narendra Modi at the Global Mobility Summit 'MOVE'.
India has over 170-million two-wheelers, the report stated, adding that if each of those vehicles consumes about part a litre of petrol in keeping with day, the whole amount of petrol utilized by such vehicles works out to be about 34-billion litres.
"At Rs 70 per litre, this would cost about Rs 2.4-lakh crore. Even if we assume that 50 per cent of this is the cost of imported crude (as tax and other maybe 50 per cent), one may save Rs 1.2-lakh crore worth of imported oil," the report stated.
It further stated that there is a actual possibility of getting this performed in the subsequent 5 to seven years.
"This would, however, require innovations, a policy regime that encourages access to latest technologies and a concerted effort by the Indian industry to achieve global competition through acquiring the necessary scale and using cutting-edge technology," it noted.
India has a lot to realize by way of converting its internal combustion engine (ICE) vehicles to electrical vehicles (EVs) at the earliest, the report titled 'Zero Emission Vehicles (ZEVs): Towards A Policy Framework' suggested.
The report was presented to Prime Minister Narendra Modi at the Global Mobility Summit 'MOVE'.
India has over 170-million two-wheelers, the report stated, adding that if each of those vehicles consumes about part a litre of petrol in keeping with day, the whole amount of petrol utilized by such vehicles works out to be about 34-billion litres.
"At Rs 70 per litre, this would cost about Rs 2.4-lakh crore. Even if we assume that 50 per cent of this is the cost of imported crude (as tax and other maybe 50 per cent), one may save Rs 1.2-lakh crore worth of imported oil," the report stated.
It further stated that there is a actual possibility of getting this performed in the subsequent 5 to seven years.
"This would, however, require innovations, a policy regime that encourages access to latest technologies and a concerted effort by the Indian industry to achieve global competition through acquiring the necessary scale and using cutting-edge technology," it noted.
Use of electric two-wheelers could save Rs 1.2 lakh crore, says Niti Aayog report
![Use of electric two-wheelers could save Rs 1.2 lakh crore, says Niti Aayog report]()
Reviewed by Kailash
on
September 08, 2018
Rating:
