NITI Aayog has proposed a regulatory framework for electric mobility even as it forecasts electric two-wheelers sales in India to jump to 22.01 million by 2031 as against 0.23 million in 2021 if demand incentives continue beyond 2024 and battery cost reduces while the power goes up due to significant improvement in technology.

The report forecasts that in the optimistic scenario, in which the battery cost goes down with a CAGR of 8%, range and power of the vehicles increase by 20% by FY 2024 (due to technological progress) and demand incentive continue till FY 2031, India is expected to register sales of 22.01 million units compared to 0.23 million units sold in 2021.