2024 has been a pivotal milestone in India’s EV evolution, setting the stage for transformative growth. Between April and November alone, India achieved an impressive 13.06 lakh EV registrations reflecting a 25.64% growth compared to the previous year. This momentum has been fuelled by the rise of indigenous manufacturers delivering groundbreaking innovations, supportive government policies, and a growing shift toward eco-conscious consumerism.The expansion of ‘Make in India’ manufacturing has strengthened the nation’s EV sector, while initiatives like PM E-DRIVE, FAME II, and reduced import duties have fuelled adoption. Key milestones this year included March, when subsidy-driven sales peaked at 213,064 units, and October, which saw festive-led sales reach 219,322 units. India’s charging infrastructure has also witnessed a transformative leap. From around 12,000 public charging stations previously, the country now boasts over 25,202 such facilities, thanks to initiatives like PM E-Drive, which allocated ₹10,900 crore, including ₹2,000 crore exclusively for charging infrastructure
Looking ahead to 2025, resolving the inverted GST structure in the two-wheeler segment is crucial. While the lower 5% GST on EVs encourages adoption, the 18-28% GST on raw materials creates high working capital demands, increasing costs unnecessarily. Addressing this taxation disparity and refining policies will create a stronger foundation for the sector’s efficiency and competitiveness, providing a much-needed boost for sustainable growth.
As we look to 2025, India stands at the cusp of becoming a global EV leader. Enhanced affordability, improved range, robust charging networks, and rural penetration are set to define the next phase of growth. Indigenous manufacturers are set to raise the bar with groundbreaking offerings, while the government’s continued investment will fuel adoption across urban and rural markets alike. At Oben Electric, we are proud to lead this revolution with high-performance, innovative, and affordable electric two-wheelers, redefining mobility for Indian consumers.” — said Ms. Madhumita Agrawal, Founder & CEO, Oben ElectricAutomobile Market Place- Droom
Droom is an AI and data science-driven online platform revolutionizing the Indian automotive market through its suite of AI-driven marketplaces, products, and services. Droom has helped 1.5 million customers buy, sell, finance, and insure vehicles via Droom marketplace.
For buyers, Droom offers 21st century and finest experience in buying and selling of used and new automobiles with trust, selection, low price, and convenience second to none. Every vehicle sold at Droom goes through a proprietary and technology-driven rigorous 1,100-point inspection and certification for its condition, pricing, and history. Droom offers India’s largest selection of automobiles with over 250k vehicles online in 1,176 cities — both used & new, cars & 2-wheelers, and other vehicles too. Because Droom invests in technology and AI vs. physical dealerships and heavy operations, the automobiles sold at Droom are cheaper than other options available to consumers.
In order to build trust and convenience, Droom has built an entire ecosystem of technology-driven products around used automobiles online, including Orange Book Value (algorithmic used vehicle pricing engine | 725 Mn+ Queries), ECO (tech, AI and IoT driven 1,100+ points vehicle inspection), History (India’s largest repository for used vehicle historical records | Database of 250 Mn+ vehicles | up to 50 vehicle historical records), Droom Fintech (Loan & Insurance), and Velocity (last mile fulfillment and delivery services). Large enterprises like HDFC, IDFC, Yamaha, TVS, Toyota, and many more harness Droom’s tech stack as cloud services to grow market share across the rapidly growing Indian economy.
Droom was founded by Sandeep Aggarwal, who is the only tech founder in India to have founded two unicorns back-to-back in the last 10 years backed by an all-star team. Droom is among the most trusted consumer Internet brands in India often recognized for its innovative approach and technology and is backed by marquee global investors including Lightbox, Digital Garage, Toyota Group, Beenext, Beenos, 57 Stars, Lightbox, and many multibillion-dollar family offices in SE Asia and Hong Kong.– said Mr. Sandeep Aggarwal, Founder & CEO of Droom
Global IT Services & Solutions- InfoVision
“The year 2024 has been a year of measured progress for the IT industry, as businesses navigated global economic uncertainties, cautious investments, and delayed decision-making. However, as we look ahead to 2025, the outlook is decidedly optimistic. Increased IT spending and a growing urgency among traditional enterprises to accelerate digital transformation will drive the industry forward.
The adoption of Generative AI is no longer a choice but a necessity, as both enterprises and consumers actively integrate AI-driven solutions into their operations. Moving beyond proof-of-concept projects, businesses are now focusing on leveraging advanced AI capabilities to achieve tangible results. Key advances in the areas like security technologies, responsible AI, intelligent automation, and data intelligence will play a pivotal role in shaping successful digital transformation journeys across industries.
At InfoVision, we continue to drive innovation in specific areas such as Network APIs and autonomous networks in Telecom space, Omni-channel commerce and loyalty solutions in retail to mention a few and most importantly enable our customers to stay ahead in this dynamic landscape.”– said Mr. Girish Hirde – Global Delivery Head at InfoVision
Cryptocurrency Banking Space- Cashaa
“As we reflect on an exceptional year, Cashaa continues to build on its commitment to innovation in the decentralized finance sector. This year, we successfully transitioned from a B2B banking model to focusing on retail users, with a strong increase in the adoption of our platform. Our decision to launch Cashaa’s retail wallet has been instrumental in this transformation, marking a significant milestone for the company. We offer best-in-class yields of up to 34% APR on holding digital assets with us on the Cashaa app, as well as instant crypto-backed loans starting at interest rates of 0% p.a. All our product lines now have immense utilities built-in for $CAS holders, which is the native cryptocurrency of the Cashaa ecosystem. With this shift, we remain focused on expanding our global reach and reinforcing our position as a leader in decentralized finance. As we move into the new year, we are determined to continue driving growth and delivering seamless, secure financial services to our ever-expanding community of users in pursuit of achieving financial independence through crypto.”– said Mr. Amjad Raza Khan, Co-founder & CEO of Cashaa
