New Delhi: India’s mobility landscape has moved into a phase of structural transformation, with the market projected to more than double and exceed $600 billion by 2030, the National Association of Software and Service Companies (Nasscom) said on Tuesday.
This surge is driven by urbanisation, rising incomes, and rapid electric vehicle adoption, Nasscom said in a statement, as it announced the winners of the Mobility Innovation Challenge.
“Advances in electrification, automation, clean energy, and digital infrastructure are reshaping how mobility solutions are designed, built and experienced,” it said.
The challenge reflected “the growing maturity of the mobility ecosystem and the increasing convergence of deep technology, industry priorities and large-scale deployment ambitions”.
The initiative focused on advancing innovation across electric and clean fuel technologies, energy systems, autonomous and connected mobility, and the digital foundations required for scale and global competitiveness.
“India is entering a defining decade for mobility. The challenge before us is to move beyond just innovation and build the ability to translate breakthrough ideas into solutions that scale responsibly and competitively,” Nasscom Senior Vice President & Chief Strategy Officer, Sangeeta Gupta, said.
The Mobility Innovation Challenge received 390 applications from 174 unique startups across 17 problem statements curated by leading automobile companies.
The number of applications reflected the scale of opportunity and the depth of innovation capability in India, the statement said.
Nearly half of participating startups were early stage ventures, while a majority were market ready or pilot ready; most had existing customers and were funded, while collectively they had filed more than 200 patents, Nasscom said.
The technology stack was strongly AI-led, with notable representation across IoT, robotics and immersive technologies, alongside emerging areas such as physics-informed neural networks, post-quantum cryptography and advanced battery recycling.
(IANS)
