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Indian Government Plans Multibillion-Dollar Subsidy for Grid Battery Producers
source link: https://nextbigwhat.com/indian-government-plans-multibillion-dollar-subsidy-for-grid-battery-producers/
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Indian Government Plans Multibillion-Dollar Subsidy for Grid Battery Producers
- The Indian government is reportedly preparing a $2.63 billion production-linked incentive subsidy scheme for companies manufacturing electricity grid batteries, as part of its clean energy transition.
- The initiative aims to encourage domestic battery cell production to lessen India’s dependence on China for battery imports.
- According to the proposal, a lack of local manufacturing could lead to a significant increase in imports from China due to energy transition necessities.
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