Advanced Chemical Cell: To promote the production of Advanced Chemical Cell (ACC) used in electronic goods including electric vehicles and smartphones, the government has increased its budget by almost 6 times in the last few years. This step has been taken by the government to promote energy storage ecology.
The government started the national program in 2021
The Union Cabinet on May 12, 2021, had approved a National Program on Advanced Chemical Cell (ACC) Battery Storage with a budget outlay of Rs 18,100 crore. The objective of this scheme is to strengthen the eco-system of electric transportation and battery storage in the country. The scheme envisages enhancing the country’s ACC manufacturing capabilities by setting up Giga scale ACC and battery manufacturing facilities in India with emphasis on maximum domestic value addition.
Government increasing financial assistance
Vijay Mittal, Joint Secretary, Ministry of Heavy Industries, said in an event organized in connection with India Energy Storage Week 2024 (IESW) in Delhi that the Ministry and the Government of India have increased the budget by six times. Initially a budget of Rs 1,118 crore was provided. He said that I have seen a continuous increase in financial assistance to this sector.
Also Read: Houthi attack: Crude oil and vehicle prices likely to rise due to Houthi attack in the Red Sea
India will become self-reliant in energy eco-system
The Government of India wants to give priority to the development of a self-reliant energy eco-system. The budgetary allocation for this was increased three times to Rs 3,000 crore in 2022 and doubled again in the financial year 2023-24. India Energy Storage Alliance (IESA) is celebrating its 10th anniversary of IESW Conference and Exhibition this year. IESW is going to be organized in New Delhi on July 1-5 this year. More than 200 exhibitors and participants from more than 50 countries are expected to participate in the event.
Also Read: 36 crore petrol-diesel vehicles closed, hybrid started… Nitin Gadkari took a pledge