ICE is 'dead technology', Way Forward is Electric: Amitabh Kant Kant's words come at a time when the central government has reduced the budget allocation for the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by nearly 44 per cent to INR 2,671 crore for FY25.
By Entrepreneur Staff •
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The Internal Combustion Engine (ICE) is a 'dead technology' and the way forward is electric, Amitabh Kant, the G20 sherpa and former CEO of NITI Aayog said, pushing for EV makers to make India the biggest manufacturer and exporter of electric vehicles.
Speaking at an event in Bengaluru, he said, "We are the biggest exporter of two-wheelers in the world, ICE is a dead technology according to me and the market is disrupted with EVs,"
Kant also pushed for Indian EV players to make electric two-wheelers for the global market. "It is the mindset of entrepreneurs. India is a large market but we do not realise that export market gives 5X more of what you get in India. Everytime India has grown it has grown because of exports," He said adding that by 2030 the whole world will move only be electric and India must grab that opportunity.
Kant's words come at a time when the central government has reduced the budget allocation for the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicle (FAME) scheme by nearly 44 per cent to INR 2,671 crore for FY25, which may result in a slowdown in the adoption of electric vehicles in India.
In FY24, the government allocated a revised estimate of nearly INR 4,807 crore for FAME schemes, according to the government's budget allocation document published on February 1, 2024.
Talking of skilling within the EV industry, Kant said the Centre has worked with around 20 IITs and IIITs on electric mobility courses within the institutions. "We need data scientists, product developers, prompt engineers and many institutions should change their curriculum based on this," he added.
Sharing some advice to EV makers, he said the manufacturers should not 'burn cash' by selling products at a cheaper cost with low-quality. "Never burn cash by selling your vehicles by compromising on quality... Create a brand for an aspirational middle-class Indian," he said.
