With an eye on China, Budget sets ground for three power gear production zones
NEW DELHI : The Union budget presented on Monday created a budget head for setting up ‘Manufacturing Zones’ under the Atmanirbhar Bharat package.
The notes on Demands for Grants for 2021-2022 states, “This scheme is for setting up of 3 manufacturing Zones for Power and Renewable equipment to be set up in 3 different States. The manufacturing facilities in the zones shall be based on cutting edge, clean and energy efficient technology for minimizing dependency on import of equipment, critical components, basic raw material, critical spares etc. required for Power sector and renewable.”
The move to set up dedicated manufacturing zones is primarily aimed at curbing the use of Chinese-made equipment and attracting firms across power generation, distribution and transmission —both in conventional and green energy spaces.
