India’s electric vehicle (EV) market has grown 14-fold since 2020.
But here’s the uncomfortable truth: the EV story is often reduced to batteries. That is only half the picture. The real industrial battle lies deeper—in motors, semiconductors, power electronics, chargers, and rare earth magnets.
This is where the value sits. This is where technological sovereignty is decided. And this is where India still depends heavily on imports, especially from China.
So the big question is: can India move from assembling EVs to owning the industrial operating system behind them?
To answer this and more StratNewsGlobal.Tech spoke to Rahul Maity, EV consultant at JMK Research and lead author of an important new IEEFA study on EV localisation in India on Capital Calculus.
