Indian Minister Nitin Gadkari Predicts EV Prices in India Will Match Petrol Vehicles Within 6 Months

Union Road Transport and Highways Minister of India, Nitin Gadkari, has predicted that electric vehicle (EV) prices in India will reach parity with petrol vehicles within the next four to six months — a shift that could have notable implications for Nepal’s automobile market.

Speaking at the 20th FICCI Higher Education Summit 2025 in India, Gadkari highlighted this milestone as a crucial step toward mass EV adoption in India. India currently spends roughly INR 22 lakh crore annually on fuel imports, underlining the economic and environmental urgency of transitioning to cleaner energy sources.

By making EVs more affordable, Gadkari said India aims to drive widespread adoption and strengthen its position as a global hub for EV manufacturing. The minister also revealed plans for EVs to become cheaper than petrol vehicles within 2–3 years, further boosting demand.

Reduced EV prices in India could make electric vehicles more accessible for Nepali buyer too, potentially lowering import costs and encouraging a shift toward sustainable mobility in the country.

Gadkari also noted that the Indian government reforms, including GST reductions and removal of vehicle cess, have already contributed to lower car prices in India.

Small cars (under 4 metres and 1,200 cc for petrol/1,500 cc for diesel) now attract 18% GST, while larger cars and SUVs are taxed at a flat 40%. These measures have enhanced affordability for consumers and are expected to support the EV market.

The Indian EV market, which recorded 1.68 million sales in FY 2023-24, is growing steadily. While two- and three-wheelers account for roughly 70% of sales, four-wheeler adoption is increasing, particularly for models under INR 10 lakh.

With India’s EV sector poised for rapid expansion, Nepali consumers and dealers could benefit from greater availability, competitive pricing, and a wider selection of electric vehicles in the near future.