India, a major player in the global automotive industry, has been making efforts to transition to alternative fuels to curb pollution. Over the past two decades, the country expanded its consumer and vehicle bases and added local manufacturing facilities. In 2023, India sold almost 24 million vehicles, with more than 1.5 million being electric vehicles (EVs). Although the growth of EV sales in India is significant, it has slowed down compared to the previous years due to cuts in subsidies. The top four market players in the electric two-wheeler segment capture about 80% of the market share. The Indian government has offered subsidies and incentives to boost EV consumption and attract investments in domestic manufacturing. However, equity investments in India’s EV market decreased by 52% in 2023. Despite the challenges, India’s growing global presence and the entry of global EV companies like Tesla indicate future prospects for the EV market in the country.