Cabinet approves PLI scheme for battery storage systems

The union cabinet has approved a PLI scheme for battery storage systems. Currently, India reportedly imports battery storage equipment worth Rs 200 billion. The approval of PLI will reduce the import dependence and also give an impetus to the electric vehicle segment. The cabinet has approved Rs 181 billion for PLI. Further, an investment of Rs 450 billion is expected from the National Programme on Advanced Chemistry Cell Battery Storage.