With the intent of putting India on the map as a lead battery storage producer, the Department of Heavy Industries (“DHI”) had notified the Production-Linked Incentive, ‘National Program on Advanced Chemistry Cell (ACC) Battery Storage’ (“PLI-ACC Scheme”) in June, 2021. The PLI-ACC Scheme has been developed to boost the Prime Minister’s vision of ‘Atmanirbhar Bharat’ and is one of the thirteen schemes approved by the Union Government. It aims to encourage domestic and foreign investors to invest in setting up giga-scale ACC manufacturing facilities in India.Continue Reading Analysis of PLI ACC Scheme for ACC Battery Storage
Partner (Head - Projects) at the Mumbai office of Cyril Amarchand Mangaldas. Santosh has rich experience in banking, projects, project financing, structured financing, acquisition financing and private equity and represents developers, sponsors, lenders and contractors in infrastructure and project finance transactions. He has led the Firm’s development of the Renewable Energy practice in the last few years.
Chambers Asia Pacific 2017 has ranked Santosh as Notable Practitioner for Projects, Infrastructure & Energy and he has been rated as Leading Lawyer for Banking, Energy & Infrastructure, Project development and Project Finance by IFLR1000, 2016. He can be reached at email@example.com
Ministry of Heavy Industries (“MHI”) notified the Product Linked Incentive (“PLI”) Scheme for Automobile and Auto Component Industry (“PLI Auto Scheme”) in September 23, 2021 with the intent of enhancing India’s manufacturing capabilities for advanced automotive products. The applicant company qualifying the eligibility criteria (inter alia, revenue and investment) provided in the PLI Auto Scheme can receive the benefits under the same. The scheme provides for financial incentives to boost domestic manufacturing and attract investments in automotive manufacturing value chain and its primary objectives include, inter alia, overcoming cost disabilities and building robust supply chain in areas of advanced automotive technology products.Continue Reading Zooming into Sustainable Growth – An Analysis of the PLI Scheme for Automobiles and Auto Component Industry
The Indian economy is one of the fastest growing economies in the world, with an increasing demand for energy. Given that historically India has relied on pollutant hydrocarbons to run its power plants and vehicles, there has been an increasing focus on setting ambitious ‘green’ targets, especially in light of the alarming levels of pollution in India. The Government of India (GoI) has actively encouraged the adoption of electric vehicles with the idea of shifting the production of new automotive vehicles from internal combustion engine models to electric vehicles by 2030.
Continue Reading Part I – Electric Vehicles: Disrupting the Automotive Ecosystem