India has a vision to become energy independent by 2047 and achieving net zero by 2070. In this regard, the Indian government is considering to extend the Production Linked Incentive (PLI) scheme for the chemicals and petrochemical sector as well, said Union Finance Minister, Nirmala Sitharaman.
“Net Zero can’t be achieved unless each industry and sector contribute to it. We are very focused on green growth. Carbon intensity has to be reduced and therefore each one of the sectors will have to contribute to this,” she added.
The government had announced the re-bidding of PLIs for 20 GWh Advanced Chemistry Cell manufacturing — India’s Rs 18,100-crore programme to boost local battery cell production. The Ministry of Heavy Industries will facilitate a stakeholder consultation with industry representatives for their inputs and suggestions before the start of the re-bidding process of remaining 20 GWh capacity. The government approved the PLI scheme ‘National Programme on ACC Battery Storage’ for achieving a manufacturing capacity of 50 Giga Watt Hour (GWh) of ACC to enhance manufacturing capabilities with a budgetary outlay of Rs 18,100 crore. Under the initiative, the emphasis of the government is to achieve greater domestic value addition, while at the same time ensuring that the levelised cost of battery manufacturing in India is globally competitive.
