EV Prices to Match Petrol Vehicles Within 6 Months, Says Nitin Gadkari

Union Minister for Road Transport and Highways Nitin Gadkari announced on Monday (October 6, 2025) that the prices of electric vehicles (EVs) in India are expected to become equivalent to those of petrol-powered vehicles within the next four to six months. 

Speaking at the 20th FICCI Higher Education Summit 2025, Gadkari said that equal prices will make EVs more affordable for consumers and accelerating the shift away from fossil fuel dependence.

“Within the next 4-6 months, the cost of electric vehicles will be equivalent to the cost of petrol vehicles,” the Minister said during his address. He emphasized that India’s dependency on fossil fuels is both an environmental concern and a major economic challenge, with the country spending about INR 22 lakh crore annually on fuel imports.

India’s Automobile Industry Growth

Gadkari highlighted the impressive growth of India’s automobile sector under his tenure. “When I took charge as Transport Minister, the size of the Indian automobile industry was INR 14 lakh crore. The size of the Indian automobile industry now is INR 22 lakh crore,” he stated. The Minister also expressed confidence that India could become the world leader in the automobile industry within the next five years.

He compared India’s current position to global counterparts, noting that the US automobile industry stands at approximately INR 78 lakh crore, followed by China at INR 47 lakh crore. With rapid expansion and innovation, India aims to close the gap and establish itself as a major global automotive hub.

Ethanol and Waste-to-Value Initiatives

The Minister also highlighted the success of India’s ethanol programme, stating that farmers have earned an additional INR 45,000 crore by producing ethanol from corn. 

Additionally, Gadkari announced a nationwide plan to repurpose solid waste for infrastructure projects, toward the circular economy. “We have initiated a programme under which we aim to use the entire segregated solid waste in the country in road construction by 2027, thereby creating value from the waste,” he said. 

Role of Education and Skill Development

Underlining the importance of education and skill development in driving economic transformation, Gadkari called for a futuristic vision in higher education. He asserted that India’s biggest strength lies in its young, talented, and skilled population. 

“This is a big strength of India, and by using this strength, if we are successful in giving them the right education and the right skills, then we can move ahead in the world,” he noted.

He encouraged higher education institutions to incorporate emerging technologies and emphasize practical learning to align with evolving industry needs. Gadkari said that integrating innovation into education would equip students with the necessary capabilities to contribute to India’s growth story.

India’s EV sector is booming with the clean mobility smashing records. India’s has recently ended the H1 2025 with over 1 million EV registrations, significantly up from 895,000 units during the same period last year.