India driving electric mobility, energy storage sector growth: Experts
The Government of India is encouraging investments in the manufacturing of batteries and Niti Ayog is exploring to incentivise the production per kW.
Hyderabad : India will be moving fast with various favourable policies and schemes to implement efficient energy storage and electric mobility in the country, point out experts.
Niti Aayog is working on inviting investments for cell manufacturing and is proposing direct incentives. Indian industry needs to be sure that the shift will provide them with tremendous growth opportunities, said Anil Srivastava, mission director, Mobility, Niti Aayog, at the E-Business Summit on Integration of Energy Storage and Mobility organised by Indian Chamber of Commerce (ICC) on Thursday.
India is the fourth largest manufacturer of automobiles and the largest in two-wheelers. The critical opportunity is to integrate energy storage, batteries and vehicle manufacturing for a viable commercial market. The price of lithium ion batteries has come down significantly and there is further reduction expected in the coming years.
The Government of India is encouraging investments in the manufacturing of batteries and Niti Ayog is exploring to incentivise the production per kW.
On the push given to electric mobility, Mayank Jalan, president, ICC, said, “Over the past few years the Government of India has created a momentum through several policies that encourage the adoption of electric mobility. The government has launched the National Electric Mobility Mission Plan 2020 with a vision and road map of faster adoption of electric vehicles and manufacturing in the country.”
Also, several States and union territories have come out with draft and final electric policies that provide fiscal and non-fiscal incentives to accelerate the value chain of electric mobility activities. Manufacturers have started working on e-buses, cars, bikes and three-wheelers.
FAME Scheme
Rajiv Reddy, chairman, Southern Region, Indian Chamber of Commerce, said, it is time for India to shift to electric mobility and reduce dependence on fossil fuels.
The government has already approved the Phase II of the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) Scheme with an outlay of about Rs 10,000 crore for a period of three years that aims to generate demand for at least 7,000 electric buses, 10 lakhs two wheelers and 5 lakh three-wheelers.
To give a further push to clean mobility in public transportation and faster adoption of EVs, the Department of Heavy Industries has approved the sanction of 5,595 electric buses to 64 cities / State government entities for intra-city and intercity operation under FAME India scheme phase II.
Source : telanganatoday
