CURRENT AFFAIRS
CURRENT AFFAIRS
Description
India's production-linked incentive scheme for advanced chemistry cell manufacturing, a Rs 18,100 crore program aimed at increasing domestic battery cell production, is set to begin commercial production in stages throughout the current fiscal year.
The Ministry of Heavy Industries has allocated 30GWh of capacity to three beneficiaries: Ola Cell Technologies Pvt Ltd, ACC Energy Storage Pvt Ltd, and Reliance New Energy Battery Storage Ltd. An extra 20GWh is being allocated, with the goal of reaching 50GWh of production by 2030. Engineers India Limited (EIL) has been designated as an Independent Engineer to oversee the progress of the beneficiaries. The scheme benefits India's electric mobility and battery storage ecosystems and is in line with the Atmanirbhar Bharat (Self-Reliant India) initiative.
What is India's production-linked incentive scheme for advanced chemical cell manufacture all about?
By rewarding manufacturers, the initiative intends to boost India's indigenous battery cell production capacities. It contributes to the expansion of the country's Electric Mobility and Battery Storage ecosystem, coinciding with the Atmanirbhar Bharat drive for self-reliance.
Which beneficiaries have received capacity through the scheme?
The Ministry of Heavy Industries has allocated 30GWh of capacity to three beneficiaries: Ola Cell Technologies Pvt Ltd, ACC Energy Storage Pvt Ltd, and Reliance New Energy Battery Storage Ltd. These companies are establishing manufacturing facilities in several states.
What is the scheme's aim for battery cell production?
Through this scheme, the goal is to reach a production capacity of 50GWh by 2030. The present awarded capacity of 30GWh is projected to grow as the process of awarding additional 20GWh continues.
How are the beneficiaries' progresses tracked?
Engineers India Limited (EIL) has been designated as an Independent Engineer to monitor the beneficiaries' development. This ensures the scheme's transparency, accountability, and effective execution.
What role does the scheme play in the Atmanirbhar Bharat initiative?
By supporting local battery cell manufacture, the plan encourages domestic value addition. The scheme coincides with the broader goal of increasing self-reliance in critical areas by developing the technology for Advanced Chemistry Cells within the country.
What is the significance of the production facilities of the recipient companies?
Beneficiary firms' manufacturing plants in Tamil Nadu, Karnataka, and Gujarat play an important role in creating local job opportunities and contributing to regional economic development. These facilities are aimed towards improving India's battery cell production capacity.
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