PLI, tax benefits and more: Niti’s advice to boost EV battery manufacturing
As part of the efforts to promote electric vehicles and boost domestic value addition, the Niti Aayog has suggested incentives in the form of production-linked incentive (PLI) schemes, tax benefits, and royalties to support the processing and refining of minerals used in lithium-ion batteries, according to a report by The Economic Times (ET). The proposals were made in a report released on July 31 by the Niti Aayog— “Mine to market: critical minerals supply chain for domestic value addition in lithium-ion battery manufacturing”.
In February, the Geological Survey of India (GSI) announced the Salal-Haimana area in Reasi could be sitting on 5.99 million tonnes of lithium reserves, giving a boost to the country’s renewable energy push.
