As the countdown to the Union Budget 2026 begins, India’s electric vehicle (EV) industry stands at a pivotal juncture. With adoption accelerating and the sector transitioning from niche to mainstream, stakeholders are voicing clear expectations for sustained policy support to maintain momentum and position India as a global leader in clean mobility.
Mr. Ajinkya Firodia, Vice Chairman & Managing Director of Kinetic Watts & Volts Ltd—a key player in India’s EV ecosystem focused on innovative electric scooters, components, and connected mobility solutions—has outlined a bold and pragmatic roadmap for the government. His insights emphasize that the EV transition is no longer solely an environmental imperative; it has evolved into a powerful engine for value creation for the common citizen.
“The transition is no longer just about the environment—it is about value creation for the common citizen through lower fuel costs and smart technology,” Firodia highlighted. This perspective underscores how EVs deliver tangible economic benefits: significantly reduced operating expenses (thanks to electricity being far cheaper than petrol or diesel), lower maintenance needs due to fewer moving parts, and the integration of intelligent features that enhance everyday usability.
Kinetic Watts & Volts, building on the legacy of the iconic Kinetic brand, has been at the forefront of this shift. The company has expanded aggressively into EVs, launching connected electric scooters, establishing exclusive showrooms (including India’s largest in Pune), and forging partnerships for advanced features like voice assistance and IoT integration. Under Firodia’s leadership, the firm is driving accessible, reliable electric two-wheelers that cater to both personal and commercial users, aligning perfectly with India’s push for mass-market adoption.
Firodia’s recommendations for the upcoming Budget center on continuity and targeted enhancements to build on recent successes like the PM E-Drive scheme (which has provided substantial subsidies for EVs, particularly two- and three-wheelers). Key proposals include:
- Extension of PM E-Drive subsidies, especially to high-usage fleet and commercial EVs (which often see 4–5 times the daily mileage of personal vehicles, amplifying environmental and economic impact).
- Introduction of pollution-linked taxes or incentives that reward cleaner mobility choices, creating a level playing field by discouraging high-emission vehicles.
- Measures to strengthen battery manufacturing, charging infrastructure, and localization of critical components to reduce costs and dependency on imports.
- Broader fiscal support, such as tax reforms, GST rationalization on EVs and parts, and incentives for innovation to accelerate R&D in areas like connected tech and efficient powertrains.
These steps, according to Firodia, would ensure policy stability—crucial at this “sunrise” stage where premature withdrawal of support could stall progress. Industry-wide, there’s consensus that EVs in India are thriving due to consumer-driven economics rather than just mandates. Lower running costs and smart features are pulling first-time buyers and fleet operators toward electrification, but sustained government backing is essential to scale infrastructure, boost domestic production, and achieve ambitious targets like 30% EV penetration by 2030.
As Finance Minister Nirmala Sitharaman prepares to present the Budget, the EV sector watches closely. A forward-looking allocation that prioritizes continuity (like extending demand incentives), infrastructure buildout, and value-focused incentives could supercharge India’s clean mobility journey. For leaders like Ajinkya Firodia and companies like Kinetic Watts & Volts, the Budget represents an opportunity to transform environmental goals into widespread economic empowerment—making electric mobility not just sustainable, but truly affordable and aspirational for millions of Indians.
The coming weeks will reveal whether Budget 2026 delivers the momentum needed for India to lead the global EV revolution.
