As global energy markets reel from the latest Gulf oil shock, India is seizing the opportunity to accelerate its transition to electric vehicles (EVs). The sudden surge in oil prices, triggered by the ongoing conflict in the Middle East, has dealt a significant blow to India's oil imports, which account for nearly 80% of the country's energy needs. In response, the Indian government is intensifying its efforts to promote EV adoption, with plans to offer incentives and subsidies to manufacturers and consumers alike. With the country aiming to reach net-zero emissions by 2070, the push for EVs is seen as a crucial step towards achieving this ambitious goal.
Gulf oil shock speeds up India’s EV drive Financial Times
