Industry stakeholders in India are eagerly awaiting the upcoming Union Budget FY25, set to be presented by Finance Minister Nirmala Sitharaman on July 23. Expectations are high for the budget to introduce GST concessions and incentives like FAME 3.0 aimed at propelling the electric vehicle (EV) market in the country. Players in the EV industry are particularly keen on nurturing the ecosystem by promoting R&D, supporting local manufacturing, and enhancing the resale market for EVs. Key points of anticipation include the introduction of a new subsidy scheme with stricter eligibility criteria, focusing on different vehicle segments like trucks alongside passenger vehicles, two-wheelers, and three-wheelers. The emphasis on Research & Development (R&D) and domestic manufacturing capabilities for EVs and batteries is expected to receive additional support through schemes like the Production-Linked Incentive (PLI). Industry leaders hope for measures that enhance affordability for commercial EV fleets, driving innovation and efficiency in logistics. The budget is likely to emphasize incentives to make EVs cost-effective for fleet operators, ultimately nurturing a sustainable transportation ecosystem. The industry also anticipates policies supporting the local production of batteries, aligning with the 'Make in India' initiative to compete globally and cater to a wider consumer base. Charging infrastructure providers expect specific provisions like subsidies and tax benefits to expand services and reduce range anxiety, thus encouraging wider EV adoption. Moreover, stakeholders look forward to a positive announcement regarding FAME 3.0, which could significantly boost EV sales penetration in the market. The budget is poised to introduce measures that support not only EVs but also vehicles powered by hydrogen and biofuels, demonstrating a commitment to cleantech development. In conclusion, the industry is optimistic about the upcoming budget and hopes for a comprehensive set of policies that will accelerate the transition towards sustainable transportation, strengthen the EV ecosystem, and pave the way for a greener future in India.