NEW DELHI: A young India, with a large digitally enabled middle class is asking for growth and change in the country. Without building the skills and capabilities necessary to drive innovation, the nation always risks inertia. However, if India can create capabilities for growth and new solutions, the opportunities, both at home and abroad, are limitless.
In a changing scenario, with huge population nearly 1.35 billion citizens by transforming the way the economy creates value. Corporate India has a critical role to play in this story, not only by creating value by addressing key societal needs, but in supporting a vibrant entrepreneurial sector. Therefore, it is believed that the Future of India is being driven by the belief that can have a shared prosperity.
“Innovation in any economic system happens through a process of change and selection. The process resembles that of evolution in nature. In an economic system, entrepreneurs typically provide the variation in ideas and solutions, while large firms help select and scale the right ventures to bring about wider change, says Mayank Jain”.
Considering the large numbers of vehicle users in the country, India would need the considerable amount of energy to fulfil the wishes of world’s largest populated human space. The burden of oil imports, rising pollution, and international commitments to combat global climate change are among key factors motivating India’s recent policies to speed up the transition to e-mobility segments.
Mayank Jain (30), a Delhi based professional with focus on innovation in the field of electric vehicle (EVs) by putting the latest technologies in place. Mayank along with his friend begin the journey to accelerate mobility towards cleaner future, and to develop an electric vehicle eco-system in the country by 2025.
Additionally, it also needs to partner with the government or many other sectors in order to implement new developmental approaches in this field to hasten its growth. India, is gradually picking pace of electric vehicle with maximum Foreign Direct Investment (FDI) almost 100% seems possible. However, the challenges that the industry has to maintain the quality to meet the global standard, Mayank added.
Having almost 10 years of experiences in automobile (Research & Development) in organisation like Roki, Sandhar and Yamaha; after filling few patents, two research orientation and few (EVs), designed applications, he realises the need of it and jumped in to joined the revolutions in (EVs) field.
The Indian automotive industry is the fifth largest in the world and is slated to be the third largest by 2035. Cuisine to a vast domestic market, reliance on the conventional modes of fuel intensive mobility will not be sustainable. In an effort to address this, federal policymakers are developing a mobility option that is “Shared, Connected, and Electric” and have projected an ambitious target of achieving 100 percent electrification by that time.
The new manufacturing hubs, and increased impetus to improving charging infrastructure in the country. The government’s subsidies and policy favoring deeper discounts for Indian-made electric two-wheelers as well as a boost for localized ACC battery storage production are other growth drivers for the Indian EV industry.
This ‘Winning Leap’ solutions will enable sectoral growth with a fraction of the resources to attain desired outcomes in this field. As the world increasingly confronts technological change and sustainability challenges, we believe India and the Winning Leap can offer an exemplar for other growth markets. Our report also outlines how government will need to create national platforms and improve the ease of doing business.