Budget 2026: Is India Ready for EV Boom? Taxes, Lending & Supply

Описание: EV adoption is rising, but industry leaders warn that lending hurdles, confusing taxes, import dependence and weak recycling systems are slowing the transition. Can India sort the basics before the next leap?

India’s EV success story looks ambitious on paper, but the cracks become obvious once you listen to people building the sector every day. This conversation brings out the ground reality: what is moving, what is stuck, and what the voices from the industry are expressing. Vivek Dhawan from OSM says the interest is already there. “People want EVs. The real drag is the supply chain,” he points out, from cells to critical parts that are still unreliable or imported. For Deepak Nanwani of Yuma Energy, the big obstacle is financing. Battery swapping could speed up adoption, but the cost of capital makes it tough. “You cannot scale a capex-heavy model at 11 to 12 per cent. It slows everything down,” he says. Attero’s Pawandeep Singh highlights a problem most consumers never see. India sends much of its battery scrap abroad for refining. “We lose value twice. First, when we import, then when we export the scrap,” he explains. Kazam’s Rahil Siddique raises a simple question every EV user asks. “Five per cent GST to buy an EV and eighteen per cent to charge it. How does that help adoption?” If India wants EVs to move from pockets of progress to a true nationwide shift, these issues- finance, recycling, taxes and reliable infrastructure- need real fixes.

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