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The Economic Times
The Economic Times
Business

India's EV components opportunity to hit Rs 3.55 lakh crore by 2032 amid localisation push

India electric vehicle CES

New Delhi: India's electric vehicle (EV) components market is expected to expand eightfold to around Rs 3.55 lakh crore over the next seven years, from Rs 41,000 crore in 2025, according to an industry report.

This forecast comes from the newly released 'India Electric Vehicle & Components Market Overview Report' by India Energy Storage Alliance and Customized Energy Solutions (CES), released at the India Energy Storage Week 2026 event in New Delhi.

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