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NSE Launches India’s First Electric Vehicle (EV) Index: A New Era for EV Stocks
02 Sept 2025
1 mins read
In a significant stride towards sustainable mobility, the National Stock Exchange (NSE) of India has launched the country's inaugural Electric Vehicle (EV) Index—the Nifty EV & New Age Automotive Index. This initiative underscores India's commitment to embracing green technologies and provides investors with a structured avenue to tap into the burgeoning EV sector.
Brief Overview of NSE and Its Role in Indian Markets
Established in 1992, the National Stock Exchange of India (NSE) is a premier stock exchange headquartered in Mumbai. With over 2,600 listed companies and a market capitalization exceeding $5 trillion as of December 2024, the NSE stands as the world's largest derivatives exchange by the number of contracts traded . Its subsidiary, NSE Indices Limited, is responsible for developing and managing indices that serve as benchmarks for various market segments.
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Importance of the Electric Vehicle (EV) Sector in India’s Energy Transition
India's EV sector is pivotal in the nation's transition towards cleaner energy. With the government's push for reduced carbon emissions and energy independence, the adoption of electric vehicles is accelerating. In FY 2022-23, India witnessed a 154% year-on-year growth in EV sales, highlighting the sector's rapid expansion . This growth is further bolstered by policies aimed at promoting EV adoption and manufacturing within the country.
Announcement of NSE’s First-Ever EV Index Launch
On May 30, 2024, NSE Indices Limited introduced the Nifty EV & New Age Automotive Index, marking India's first dedicated EV index. This thematic index aims to track the performance of companies integral to the EV ecosystem, including manufacturers of electric vehicles, batteries, components, and related technologies.
What is the NSE Electric Vehicle Index?
The NSE Electric Vehicle Index is a stock market index tracking the performance of leading companies involved in India’s electric vehicle ecosystem. It includes firms engaged in EV manufacturing, battery production, and EV infrastructure. The index reflects the growing momentum in the EV sector in India. Investors use it to gauge sector performance and identify growth opportunities. It provides a focused view of the electric vehicle market’s financial health.
Key Companies Included in the NSE EV Index
NSE EV index companies include prominent names in the electric mobility space such as Tata Motors, Ashok Leyland, Exide Industries, and Bharat Electronics. These companies represent various segments like vehicle manufacturing, battery production, and EV component supply. The index captures a mix of established automakers and innovative battery tech firms. It offers exposure to the best EV stocks NSE has to offer. This blend drives the overall growth of the NSE electric vehicle index.
Growth of Electric Vehicle Market in India
The Indian EV market is expected to grow at a robust CAGR, with market size projections increasing significantly till 2030. Government initiatives like the FAME II scheme and Production Linked Incentive (PLI) programs have been critical in supporting this growth. These policies encourage manufacturing, adoption, and infrastructure development. Consumer adoption is rising steadily due to improving affordability and awareness. Infrastructure build-out, such as charging stations, continues to expand, boosting investor confidence in the sector and encouraging more people to invest in EV stocks India for long-term gains.
How to Invest in the NSE Electric Vehicle Index
- Research NSE EV index companies to identify the best EV stocks NSE offers.
- Use a stockbroker platform to buy shares or invest via ETFs tracking the NSE electric vehicle index.
- Diversify your portfolio by including multiple stocks within the EV sector.
- Monitor government policies like FAME II and PLI schemes influencing market dynamics.
- Stay updated on consumer adoption trends and infrastructure growth to time your investments well.
