Electric vehicle sales in India have grown from approximately 50,000 units in 2016 to 2.3 million units in 2025, a 46 fold increase. The government projects the EV market will reach 191.04 billion dollars by 2034, underpinned by charging infrastructure expansion, battery sector growth, export potential and policy support through the FAME and PLI for Advanced Chemistry Cells schemes.
Why it matters: The surge in EV adoption signals accelerating demand for charging infrastructure across India, creating substantial procurement opportunities for charge point operators and equipment suppliers. Government backed schemes and a near 200 billion dollar market forecast point to long term investment confidence in the sector.
Jammu and Kashmir has been allocated 200 electric buses under India's PM E-DRIVE Scheme, part of a nationwide 14,000 e-bus rollout, with 76 public EV charging stations already installed under the earlier FAME-II programme, according to Union Heavy Industries Minister H.D. Kumaraswamy in the Lok Sabha. The Union Territory has seen 15,940 EVs supported under PM E-DRIVE and 7,653 under FAME-II, which concluded in March 2024 after deploying 200 electric buses and establishing charging infrastructure across the region. Neighbouring Ladakh has 13 charging stations, while nationally PM E-DRIVE has supported 26,54,172 EVs as of July 2026.
Why it matters: The 200 bus allocation and 76 station rollout signal sustained central government procurement in a strategically sensitive region, creating immediate tendering opportunities for bus OEMs and charging hardware suppliers. CPOs and infrastructure contractors should monitor follow on phases, as the PM E-DRIVE scheme's national scale suggests multi year pipeline growth beyond the FAME-II baseline.
