Electric vehicles will play a major role in India’s emissions reduction goal. But, the heart of an EV, its battery, is mostly imported. For India to become a major EV player, it will have to master battery making. Given the capital intensive nature of the sector, Indian firms will have to grab a share of the global battery demand pie to turn a profit. So, can Indian industry succeed in this ambitious venture?
Indian EV sector may be off to a good start. But, banks have clearly missed the bus. In RBI deputy governor T Rabi Shankar’s words, they failed to scale-up the UPI in early days, and the opportunity was grabbed by the non-banks. Two of them – PhonePe and Google Pay – now rule the space with about 82% market share. And, it seems, their free run will continue as the 30% market cap mandate will not come into force…
TMS Ep317: EV batteries, WhatsApp UPI, Markets, Participatory notes
