Overview of the Burgeoning Indian EV Charging Industry Landscape:

Electric Vehicles (EVs) today form around 8% of all the vehicles (including diesel, petrol, CNG, and more) plying on roads in the country. Furthermore, the government of India intends to take this market penetration to 30% by 2030. And, therefore with the rise in EVs (and electric cars, in particular) comes the need to have adequate, affordable, and accessible EV charging infrastructure in the form of dedicated 24*7 charging stations. This includes portable plug-and-play chargers, battery swap technology, and more.

The significant growth of the EV market in India reflects in the nationwide sales of around 1.97 million units registered in 2024, further solidified by the pan-India turnover of around USD 11.5 billion during FY 2024-25 (including ancillary industries such as EV Charging and Battery Manufacturing). 

The market is driven by fast-rising EV adoption, consumer demand, environment awareness, and strong government support along with a slew of incentive schemes. By conservative estimates, the EV market in the country is slated to grow at a CAGR of 25-30% during 2025 to 2030.

 

 

Government Policies & Incentives Catalyzing the EV Boost:

The PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) is a government scheme rolled out in October 2024 and valid till March 2026. It aims to promote EV adoption in India by extending upfront subsidies to EV consumers, as also invest increasingly in public EV charging infrastructure. The subsidy amount set was INR 5,000 per kWh of battery capacity for e2Ws, capped at INR 10,000.

The Faster Adoption and Manufacturing of Electric Vehicles Phase-II (the FAME-II scheme) was its predecessor (April 2019 – March 2024) that facilitated demand incentives for EV buyers and grants to set up EV charging infrastructure. The subsidy amount set was INR 15,000 per kWh of battery capacity for two-wheeler EVs, capped at 40% of the initial vehicle cost.

The PM E-DRIVE scheme has also allocated a grant INR 2,000 crore for public EV charging infrastructure on a pan-India basis. The corresponding grant was INR 1,000 crore in case of the preceding FAME-II scheme. The Ministry of Power (MoP) and the Bureau of Eenergy Efficiency (BEE) have set requisite guidelines and standards for the EV industry (EV charging in particular). The BEE has set up a dynamic national online database of public charging stations and launched the EV Yatra app to locate chargers.

 Major Players in EV Charging Industry in India:

· Tata Power EZ Charge is a network of dedicated EV Charging stations set up by Tata group for EV owners and end consumers. There’s also a popular mobile app by the same name, along with the Tata Power EZ Charge card that seamlessly integrates convenient RFID technology with Tata’s charge point networks.

· Statiq is India’s leading EV charging network with a mammoth 8,000+ stations operational across nearly 65 cities & towns. They produce and install both AC and DC fast EV chargers ranging from 3.3 kW to 60+ kW. 

· Charge Zone is amongst the country’s fastest-growing EV charging stations network. It has pioneered the e-mobility revolution in India with its high-speed public EV Charging infrastructure. 

· Jio-bp pulse offers both EV charging network and battery swapping facilities to both B2B customers and B2C consumers on a pan-India basis. Like Tata Power EZ Charge, it also offers a dedicated mobile app for the convenience of EV drivers and owners. 

· Magenta ChargeGrid specializes in EV Charging network automation in India. It boasts of a slew of unmanned, payment-enabled, self-service EV Charging stations network.

· While other established companies are either electric cars focused or cater commensurately to all EV segments plying in India, Ather Grid has brought out a comprehensive EV charging stations network, keeping in mind the e2Ws (electric two-wheelers) in particular. It also features the dedicated app Ather for the same purpose.

Along with these established market businesses, there’s a slew of emerging smaller players raring to redefine the Indian EV charging market. Major names among them are Rebolt, Charzer, Incharz, and Blusmart.

 Rising Capacity and Potential of EV Charging:

Both public and private sectors in India are putting in the requisite efforts to leverage the EV and the e-mobility revolution, keeping in mind both India’s economic and ecological future. Before 2030, the government targets to have at least one EV Charging station in any area grid of 3 sq. km in the country, beginning with urban areas and then percolating to smaller towns and rural areas. Likewise, at least one EV station is being targeted for every 25 km on both sides of all highways, beginning with the NHs and then moving to cover the SHs as well.

As of now in 2025, India currently boasts of having over 30,000+ EV charging stations across its length & breadth. Karnataka leads with over 6,000 charging stations installed across hotspots such as residential societies, hotels, hospitals, highways, marketplaces & malls, offices & CBDs, railway stations & airports, parking areas, petrol pumps etc. With the government on a mission to have over 50 million EVs on roads before 2030, there is a huge need as well as scope for significant scaling.

Lucrative Opportunity for Entrepreneurs & Business Investors

The EV industry in India, and EV Charging in particular, presents a precious opportunity for all sorts of entrepreneurs, business owners, and investors to leverage on this high-potential market and tap into its first-mover advantage proposition. 

Ø Public EV Charging Stations (AC, DC, Both) present the most-lucrative business investment category for entrepreneurs in the Indian EV arena.

Ø Home & Workplace Portable EV Chargers manufacturing and marketing is another super-sweet spot.

Ø Battery Swapping Stations category is also a super-lucrative investment space just like charging stations.

Ø EV Repair and Maintenance, Component Production & Supply are some other high-demand segments associated with EV Charging.

Why Invest in the EV Charging Sector

Strike the iron when it’s hot. The EV Charging industry in India perfectly exemplifies this as of date and in the next many years to come. The earlier you move in and begin, the better it will be, especially if you’re considering doing so.

At The India Watch, we collaborate with companies, investors, and business owners wanting to explore prospects in India's rapidly growing EV Charging industry. We provide companies with data-driven insights and pragmatic strategies to leverage this high-demand and high-growth market. 

We help you evaluate the industry size, calculate addressable market potential, grasp the value chain from sourcing raw materials to acquiring end users, as also conduct detailed feasibility study to set up an EV Charging business in India. We offer value across a range of segments, whether you are establishing a new facility, increasing capacity, or investigating collaborations in EV Charging in India.

We prepare stakeholders to make informed choices through our sectoral research, feasibility studies, market analysis, consumer behavior research and financial models. We also map client acquisition methods, assess competition, and emphasize the applicable sustainability, governmental, and regulatory frameworks. 

For further enquiries, reach out to us at info@theindiawatch.com. Let’s explore how we can create value together.