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India's transportation sector is at a crossroads. Soaring fuel costs and choking air pollution are driving the nation towards electric vehicles (EVs). The success of this transition hinges on the upcoming FAME III subsidy program, which aims to incentivize EV adoption and foster a robust domestic EV industry. While FAME II significantly boosted e2W sales, its expiration has led to anxieties about a slowdown. A well-designed FAME III, with its focus on affordability, long-term vision, and technology neutrality, can spark a new era of sustainable transportation in India. However, effective policy measures beyond subsidies, such as reduced GST and robust charging infrastructure, are also crucial for this EV revolution to reach its full potential.