Cabinet nod to Rs 18,000 crore PLI scheme for battery storage manufacturing

NEW DELHI: The Union Cabinet on Wednesday approved a Rs 18,100 crore production-linked incentive (PLI) scheme for manufacturing of advanced chemistry cell (ACC) battery storage. The government estimates the scheme would lead to manufacturing of up to 50,000 MW capacity of battery storage in India with foreign and domestic manufacturers investing Rs 45,000 crore in the sector.

Announcing the scheme, Prakash Javadekar, the Minister of Environment, Forest and Climate Change; Information and Broadcasting; and Heavy Industries and Public Enterprises, said that the country currently imports battery equipment worth Rs 20,000 crore a year. The PLI scheme will not only decrease India’s import dependence but would also boost local manufacturing.