India to launch $1.4 billion battery component subsidy program
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India is moving to launch a subsidy program worth up to 130 billion rupees ($1.37 billion) for battery component makers, Bloomberg reported citing sources. The program aims to reduce New Delhi's critical dependence on Chinese suppliers by supporting local production of five key battery components.
Key Facts
- The subsidy program is valued at up to 130 billion rupees ($1.37 billion).
- The program will cover five key components: anode active materials, cathode active materials, electrolytes, separator film, and copper foil.
- Most Indian battery manufacturers currently source these components from Chinese suppliers.
- The proposal will be reviewed by the expenditure finance committee under India's finance ministry after inter-ministerial consultations.
Program Scope
The program targets five key battery components: anode active materials, cathode active materials, electrolytes, separator film, and copper foil. Indian battery manufacturers currently rely heavily on Chinese suppliers for these components. The subsidy aims to build a local supply chain for batteries, which is considered a strategic priority for energy security.
Policy Process
After inter-ministerial consultations, the proposed support program will be reviewed by the expenditure finance committee under the finance ministry. The program is designed to strengthen India's energy security by reducing dependence on China.
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India to launch $1.4 billion battery component subsidy program
