Government Paves Way for Green Vehicle Production with New Incentive Scheme
The Government of India has introduced a Production Linked Incentive (PLI) Scheme named the 'National Programme on Advanced Chemistry Cell (ACC) Battery Storage', in place of the FAME Phase-II Scheme. With a budget allocation of Rs. 18,100 crore, this initiative aims to foster a competitive domestic manufacturing ecosystem for ACC batteries, targeting a production capacity of 50 GWh. Already, one beneficiary firm has initiated pilot production at a giga-scale manufacturing plant. Moreover, the Ministry of MSME is rolling out the MSE-GIFT Scheme to facilitate green technology adoption among micro and small enterprises, offering financial support with concessional rates and promoting sustainable industrial practices.
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