The Indian government has successfully incentivised over 18 lakh electric vehicles (EVs) under the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme as of March 12, 2026.
This initiative was launched to promote eco-friendly transportation solutions nationwide, marking a significant milestone in sustainable mobility.
The scheme has significantly boosted the adoption of EVs in India, with 18,01,307 EVs incentivised so far.
This achievement follows the earlier FAME-II initiative, under which 16.2 lakh EVs received support. It signals a strong commitment towards reducing carbon emissions and enhancing green transport solutions across the country.
Additionally, the scheme will facilitate the deployment of 13,800 electric buses in major cities like Bengaluru, Delhi, and Mumbai. This initiative forms part of a broader effort to integrate sustainable practices within urban transport networks.
The government has extended financial incentives amounting to ₹39,081 crore under the production-linked incentive (PLI) scheme for automobiles and auto components.
This substantial investment aims to bolster the EV ecosystem, ensuring a comprehensive expansion of green vehicular technologies.
The focus on technology and innovation is also reflected in the startup ecosystem, where nearly 50% of the 2,12,283 DPIIT-recognised startups have at least 1 woman director or partner, fostering inclusivity and diversity.
To enhance the growth of women-led startups, ₹2,995 crore has been invested through AIFs under the Fund of Funds Scheme (FFS) since 2020.
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The government has also provided seed funding of ₹294 crore to women-led startups under the Startup India Seed Fund Scheme (SISFS), aimed at nurturing early-stage ventures across various stages of development.
Furthermore, the Credit Guarantee Scheme for Startups (CGSS) has facilitated loans to startups totalling ₹925.9 crore, of which ₹39 crore has been designated for women-led ventures.
The incentives provided under the PM E-DRIVE scheme highlight a firm commitment to sustainable transportation and the growth of the startup ecosystem in India. These initiatives, coupled with financial support for innovation and women-led businesses, underline a strategic push towards holistic industrial and environmental development.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Mar 19, 2026, 8:26 AM IST
Team Angel One
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