India to provide incentives for battery storage

NEW DELHI: India's cabinet on Wednesday approved a proposal to provide incentives to boost domestic production of batteries with advanced energy storage capacities, a government minister said.

The 181-billion rupee (US$2.47 billion) plan would reduce India's import dependence and help sectors such as consumer electronics, electric vehicles, and solar energy, Heavy Industries and Public Enterprises Minister Prakash Javadekar told a news conference.

(US$1 = 73.42 rupees)

(Reporting by Mayank Bhardwaj, editing by Louise Heavens)