SBI report projects 35 lakh EVs will save India Rs 1 lakh crore on crude imports by 2030

A State Bank of India report estimates that 35 lakh (3.5 million) electric vehicles replacing petrol vehicles will save India Rs 1 lakh crore (approximately USD 12 billion) in crude oil import costs by 2030. The report was discovered via ANI News.

Why it matters: The projection signals strong policy momentum behind India's EV transition, reinforcing the business case for charging infrastructure investment to support millions of new electric vehicles entering the fleet within the next five years.