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Electric Cars Impact on Indian Market, a Benefaction or Misfortune?

With the intent of Govt to switch to electric cars, automobile manufactures will need to adapt or will get extinct giving way to new companies both foreign and domestic. Electric cars will decrease India’s oil necessity and dependence on oil import, with the existing crude oil market scenario it will be a blessing enhancing the Indian economy and as the icing on cake would be electric cars are eco-friendly.

However, this measure might a big blow to conventional automobile segments in terms of technological obsolence and job losses in the existing business but at the same time it will create a parallel market to explore in the electric vehicl segments. 

In order to achieve the target as per scheduled time, Governrment needs to devise the appropriate startegy and draft market friendly regulatios to promote entarnce of both domestic as well as new players in to the segment.