Considering the constraint of space in urban areas for setting up charging stations at scale, Finance Minister Nirmala Seetharaman in her Budget Speech 2022-23 announced introducing Battery Swapping policy and interoperability standards in order to improve efficiency in the EV Ecosystem. In this regard, NITI Aayog held an inter-ministerial discussion to formulate a robust and comprehensive Battery Swapping policy framework in February 2022. NITI Aayog also held an extensive pre-draft stakeholder discussion with a wide spectrum of stakeholders representing Battery Swapping Operators, Battery Manufacturers, Vehicle OEMs, Financial Institutions, CSOs, Think Tanks and other experts.