India needs an investment of USD 20-30 billion in electric vehicle (EV) charging infrastructure to accelerate the sector’s growth, which is currently expanding at 25-30% annually, according to the India Energy Storage Alliance (IESA). Speaking at the IESA India EV Fast Charging Summit in New Delhi, IESA President Debi Prasad Dash highlighted that while the EV charging market is still in its early stages, increased investment could help double the growth rate.

Dash also discussed the government’s upcoming PM E-Drive Scheme, which is expected to provide a significant boost to EV adoption and charging infrastructure in India. The scheme, approved by the Union Cabinet in September with a budget of Rs 10,900 crore over two years, will replace the previous FAME program. It aims to support 24.79 lakh electric two-wheelers, 3.16 lakh e-three wheelers, 14,028 e-buses, and 88,500 charging stations. Dash noted that the industry is awaiting further details on the scheme, including state-specific demand allocations, to better target regions with higher vehicle density.