PLI scheme for chemicals, petrochemical sector on cards

New Delhi, July 27 (KNN) Union Finance Minister Nirmala Sitharaman informed on Thursday that the central government is considering the Production Linked Incentive (PLI) scheme for chemicals and petrochemical sector.

She also said that the country has set its sight on becoming energy independent by 2047 and achieving net zero by 2070.

Speaking at the third edition of the summit on Global Chemicals and Petrochemicals Manufacturing Hubs in India, she said, “Net Zero can’t be achieved unless each industry and sector contribute to it. We are very focused on green growth. Carbon intensity has to be reduced and therefore each one of the sectors will have to contribute to this.”

The remark “achieving net zero by 2070” comes amid government's keen focus on giving a boost to Indian manufacturers and industries by introducing PLI scheme.

The government had announced the re-bidding of PLIs for 20 GWh Advanced Chemistry Cell manufacturing -- India's Rs 18,100-crore programme to boost local battery cell production last week.

The Ministry of Heavy Industries (MHI) will facilitate a stakeholder consultation with industry representatives on July 24, 2023 for their inputs and suggestions before the start of the re-bidding process of remaining 20 GWh capacity.  (KNN Bureau)