Foundation for next 25 years

"Union Budget 2022 seeks to lay the foundation for the next 25 years, from India@75 to India@100. With PM's 'Gati Shakti National Master Plan', a Rs 100-lakh crore project for building comprehensive infrastructure in India, it will be a significant step towards path to development. The Budget has attempted to focus on each of the sectors and has also tried to stimulate the economy after the pandemic slowdown. FADA welcomes and supports the Government's efforts & initiatives towards Electric Mobility. There is a clear emphasis on creative, sustainable & innovative business models. Battery Swapping & Energy as a Service (EAAS) will surely help accelerate the transition towards Clean Mobility. The development of special mobility zones for electric vehicles and promoting clean technology for public transport validate government commitment to E-mobility, which would boost confidence in the EV industry in terms of manufacturing, sales, and create a sense of assurance among customers.

Vinkesh Gulati, FADA president

Thrust on sustainable development

"The blueprint of a digitally enabled, Aatmanirbhar Bharat, coupled with measures that will drive sustainable yet inclusive growth at a rapid pace for the next twenty-five years. These are the bedrock of the proposals announced in the Union Budget 2022-23, as we redefine our economy in a post-pandemic world."

"Setting the direction for creation of urban fossil fuel free zones, policy for battery swapping and energy as service and incentives for creating a vibrant start-up eco system, India could soon emerge as a fore-runner of green mobility solutions for the world", added Kapur.

Kapur further mentioned, "ACMA is also delighted by the measures announced for the MSMEs. The auto component industry is dominated by small players and the extension of the ECLGS (Emergency Credit Line Guarantee Scheme) and its cover, revamping and infusion of funds into the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme combined with the Raising and Accelerating MSME Performance (RAMP) program will help the MSMEs stay relevant and competitive".

Sunjay J Kapur, President ACMA

Zooming towards EVs

"It is heartening to see that the government is looking at transitioning to EVs at a faster pace. Although battery as a service can be implemented for certain areas only, encouraging the private sector to create sustainable business models is a welcome move. Impetus should be given on developing safer battery packs as swapping stations cannot be applied to direct consumers given the safety aspect as this will further lead to making the ownership of the vehicle complex."

Suhas Rajkumar, CEO & Founder, Simple Energy

Boost to EV investors

Government announcement towards promoting a shift to use of public transport in urban areas will encourage investors towards investment in the EV sector. This will be complemented by clean tech and governance solutions, special mobility those with zero fossil fuel policy, and EV Vehicles. Finance minister also announced that the Government will come out with battery swapping technology to develop special zones for electric vehicles. Integration of Private companies for the development will also boost investment in the sector. These announcements will promote the sales of electric vehicles in the country and formulation of interoperability standards will improve the efficiency of EV business.

Ankit Kumar, Tech Investor EV (Electric vehicle) & Drone

Battery swapping policy laudable

In this year's budget, the Finance Minister made a couple of announcements around the auto industry that will boost the industry overall, and will also enable us to deliver better. With the reforms coming in play in the automobile industry in India the Battery Swapping Policy on being implemented efficiently will benefit the entire EV ecosystem including manufacturers and charging infrastructure players. As a result of this policy and its appropriate execution, the adoption of EV will see a significant boost in India. The government will also encourage private players to become a part of this new development and its process in setting up adequate infrastructure. While this policy will enable wide-scale adoption of electric vehicles, it will also contribute to achieving net-zero goals of the country.

Greg Moran, CEO & Co-Founder, Zoomcar