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Battery: Representational Image
Industry body India Energy Storage Alliance on Friday hailed the government’s move to create a portal for smoother business visa applications for foreign experts engaged by Indian companies under production-linked incentive scheme and associated industries.
Multiple-entry business visa (non-extendable) will be facilitated for six months to foreign subject matter specialists/engineers/ technical people being engaged by Indian companies under the PLI scheme or PLIassociated industries by the approval of the respective line ministry, a statement by India Energy Storage Alliance (IESA) stated.
According to the statement, this will apply to personnel required for installation and commissioning, quality check & essential maintenance, production, IT & DRP ramp-up, training, supply chain development for empanelling vendors, plant design & bring-up, and senior management & executive.
IESA president Debi Prasad Dash welcomed the government’s move to support in providing business visas, saying, “It will create an opportunity for additional 100+ GWh ACC (advanced chemistry cell) battery and battery components factories in the next 5 years in India”.
He also mentioned that the ACC battery and associated components manufacturing sector will attract a cumulative investment of $9 billion (Rs 7.5 lakh crore) in the next five years.
The ACC manufacturing industry has the potential to create 50,000 direct jobs during this period.
Additionally, it will lead to savings of forex depletion on account of ACC imports and reduce India’s reliance on China and other countries.
To become a global EV manufacturing hub, India must develop a comprehensive and indigenous value chain for EVs and their components. Currently, the manufacturing of ACC batteries, which account for at least 50 per cent of an EV’s cost, is at a nascent stage in India.
China holds over 75 per cent of the global ACC manufacturing capacity. Additionally, China controls more than 80 per cent of the refining of critical minerals like lithium, nickel, and cobalt, essential for ACC batteries, IESA said.
In FY23-24, India imported approximately Rs 24,346 crore worth of lithium-ion cells from countries like China, South Korea, Vietnam and China.
IESA was advocating for the ACC Battery industry and seeking parity of policy between ACC-PLI bid winners and PLI-associated companies for issuing business visas to foreign experts for the installation and commissioning of ACC factories in India.
The body is a leading industry alliance focused on the development of advanced energy storage, green hydrogen, and e-mobility technologies in India.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Sep 06 2024 | 6:55 PM IST
