India announces $3bn package to attract solar module and

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India announces $3bn package to attract solar module and advanced battery manufacturers
An ambitious, $19.5 billion, five-year expansion of a previous domestic industry spending program includes money to attract investment into the sustainable energy and transport technologies.

NOVEMBER 12, 2020 UMA GUPTA
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FINANCE
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MODULES & UPSTREAM MANUFACTURING
POLICY
INDIA

The program will have a five-year budget.

Image: hari_mangayil/Pixabay

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India's Union Cabinet, chaired by prime minister Narendra Modi, has expanded the remit of a national program to encourage domestic manufacturing and attract overseas companies, by adding ten new production areas to its remit, including high-efficiency solar PV modules and ‘advance-chemistry-cell’ batteries.

A previous INR51000 crore ($6.83 billion) move to incentivize the manufacture of electronic components, pharmaceuticals and medical devices has been expanded with an additional near-INR146000 crore ($19.5 billion), five-year budget which will devote INR18100 crore ($2.42 billion) to advanced battery manufacturing and INR4500 crore ($602 million) to solar panel production.

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UMA GUPTA
Based in New Delhi, Uma reports on the latest PV market trends and projects in India. After gaining an MSc Physics (Electronics) and an MBA, she has gone on to accrue over a decade of experience in technology journalism.
More articles from Uma Gupta

uma.gupta@pv-magazine.com

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