Ola Founder Bhavish Aggarwal on India’s EV Growth Opportunities

Bhavish Aggarwal, the founder of Ola, emphasizes the need for India to lead in the global technology transition, particularly in artificial intelligence (AI) and electric vehicles (EVs). He advocates for the private sector to take the lead in job creation while the government should create a supportive environment. Aggarwal supports fiscal incentives for global EV manufacturers, including Tesla, to enhance India's EV ecosystem and attract investment. He believes that collaboration with established global players will elevate local expertise and innovation. Aggarwal highlights the importance of developing AI models tailored to Indian contexts, as India currently produces a significant portion of the world's digital data but lacks ownership over it. He stresses that the future of productivity in India hinges on mastering future technologies and building local supply chains. The private sector's proactive role is crucial in this endeavor, and he calls for more action from industry leaders. He acknowledges the government's efforts, such as employment-linked incentives, but insists that the private sector must step up its contributions. Aggarwal's vision for Ola Electric is to position India as a global hub for electric mobility, focusing on creating products that cater to local needs rather than following global trends centered on luxury electric vehicles. In conclusion, Aggarwal's insights reflect a broader ambition for India to not only participate in but also lead the technological advancements of the future, ensuring that the country remains competitive and innovative in a rapidly evolving global landscape.