New Delhi, May 6 : India is set to see a notable surge in electric vehicles (EVs), with an estimated 123 million EVs projected to be on the roads by 2032, a report showed on Tuesday.

In a significant move towards sustainable development and to achieve net zero emissions by 2070, there is a need to adopt electric vehicles (EVs). This can bolster India's economy while supporting the ambitious target set for 2030-EV penetration of 30 per cent, the report said. 

This rapid growth has been fuelled by supportive government policies, such as the FAME-II scheme, which offers demand incentives for electric two-wheelers, three-wheelers, and four-wheelers, along with capital subsidies for public charging infrastructure.