Cabinet approves production-linked incentives for battery storage

The Union Cabinet has approved production-linked incentives (PLI) for advanced chemistry cell or battery storage.

At present, India reportedly imports battery storage equipment worth Rs 200 billion. The approval of PLI will reduce the import dependence and also give boost to the electric vehicles segment. The cabinet has approved Rs 181 billion for PLI. Further, an investment of Rs 450 billion is expected from the national program on advanced chemical cell battery storage.

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