New Delhi, May 15 -- India's electric vehicle (EV) sector has strong long-term potential, especially if crude oil prices remain elevated. Since India imports most of its crude oil, higher fuel prices translate to increased petrol and diesel costs, making EVs more economical for retail customers and commercial fleet operators.

EV adoption is already accelerating in two-wheelers, three-wheelers, buses, and urban delivery fleets due to their lower running and maintenance costs. Government incentives, battery manufacturing schemes, and a growing charging infrastructure are also supporting growth.

Over the next decade, India could see a rapid electrification of public transport, logistics, and affordable mobility. Rising renewable-energy cap...