NSE Indices Ltd., a subsidiary of the National Stock Exchange in India, has introduced the Nifty EV and New Age Automotive index. This index is designed to track companies engaged in electric vehicles, hybrid technology, and hydrogen fuel-based automotive vehicles. It allows eligible stocks from the Nifty 500 index to join if they are involved in EV production, supply, batteries, components, and technology. With 33 stocks currently in the index, including major players like Tata Motors and Bajaj Auto, the Nifty EV index is poised to be a reference for asset managers and passive funds. The launch of this index aligns with India's governmental push for adopting battery and alternate fuel vehicles. The country has seen a surge in electric vehicle sales, particularly in two and three-wheeler segments. Noteworthy developments in the sector include Ola Technologies, Ather Energy, and Hyundai Motor India planning IPOs. Tata Motors' decision to split into two entities—one focusing on commercial vehicles and the other on passenger vehicles, including EVs—further highlights the industry's growth. Overall, the introduction of the Nifty EV and New Age Automotive index signifies a positive shift towards sustainable and innovative investments, driving the electric vehicle market forward in India.