The National Program for Advanced Chemistry Cell Battery Storage has been approved in the cabinet headed by Prime Minister Narendra Modi. Advance Chemistry stores cell energy in chemical form. It is used in electric cars. Right now, India imports it on a large scale. The government wants to reduce its imports and increase manufacturing at the domestic level. Under this mission, an inter-ministerial committee was formed under the leadership of NITI Aayog CEO Amitabh Kant for environment friendly options. The mission aims to set up a large scale battery module and pack assembly plant. Also, integrated cell manufacturing will be emphasized.
What is the government’s decision
The National Program for Advanced Chemistry Cell Battery Storage has been approved. The companies making these batteries will get an incentive of Rs 18 thousand crore. This amount will be given to companies under the PLI scheme in 5 years. The government can take strict steps to tighten imports.
Let us tell you that the Central Government has started the PLI scheme to promote manufacturing in the country. Through this, companies are given special concession as well as financial assistance for setting up and exporting their units in India.
How much will investment
Union Minister Prakash Javadekar told during the press conference that under this program there will be a total investment of 45 thousand crore rupees. It is included in both foreign and domestic.
Prakash Javadekar told that based on the amount of incentive (Rs 18,000 crore) sold to companies, how much energy efficient the product is, their quality is good. Keeping all these things in mind, you will get money.
Who will benefit from this decision
Companies like Exide, Amararaj, the company that manufactures batteries in the country, will get the benefit. Also, manufacturing at the domestic level will also create new employment opportunities in the country.
Prakash Javadekar says that India spends 20,000 crores on battery imports. This will give a boost to electric vehicle. Electric 2-wheelers and 4-wheelers will grow rapidly due to the formation of batteries in the country.
Apart from this, preparations are also being made to bring trucks like heavy vehicles on electric. Currently, fast charging battery is required. He will also be encouraged by this decision. Preparations are also underway to use batteries in railways and shipping.
2.94 lakh crore to benefit from increasing focus on electric vehicles
According to a report, if electric vehicles are used on a large scale, by 2030 this will reduce the oil import bill by about $ 2.94 lakh crore by 40 billion dollars.