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Battery Manufacturers to Soon Receive Direct Subsidy
August 07, 2019
According to an official, the government is close to completing a direct subsidy plan for battery manufacturers in the country. It will invite bids from global entities to manufacture batteries in India and offer subsidy benefits for up to 10 years. It will also offer other benefits such as zero import duty and depreciation on key inputs to promote “Make in India” plan.
The government is targeting subsidized creation of up to 50-gigawatt-hour of battery capacity in a year even as the subsidy outgo is expected to be as high as ₹700 crores.
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