One of the arguments for extending subsidies to the whole electric vehicle, or EV, ecosystem, is that it will reduce India’s dependence on oil. There is nothing wrong with the logic. Except for the fact that it might take decades for any meaningful impact to be felt. Crude oil continues to be the lifeline of the Indian economy, and will remain so for quite some time. Naturally, it also has a relationship with the stock market. This is not the
