'Vital reforms predicted in Clean Energy industry in India,' says Renon India co-founder

Aditya Vikram, Co Founder Renon India, Sustainable EV Battery Manufacturer

“With India’s intention to achieve the Zero carbon emissions target by 2070, the government policies will play a vital role in the reformation of the sector. The Union Budget ‘2023 is predicted to introduce vital reforms that will contribute to the progression of the Clean Energy industry in India. It is predicted that by 2030, India would need to invest $10 billion to increase cell production and refine raw materials to meet domestic demand for lithium-ion batteries for electric vehicles. The reduction of the import tax on lithium-ion batteries is one of the vital demands that the industry expects to be honoured in the upcoming budget. The Li-ion battery manufacturers are requesting a well-defined recycling policy and the implementation of rebates for R&D (Research & Development) for battery recycling systems in India. The Li-ion battery manufacturers also anticipate the extension of FAME II and the refinement of PLI (Product-Linked Incentive) schemes from the Union Budget ‘2023.”