(MENAFN- KNN India)
New Delhi, Sep 7 (KNN)
On Friday, the India energy Storage Alliance (IESA) welcomed the Indian government's decision to simplify business visa applications for foreign experts engaged by Indian companies under the Production-Linked Incentive (PLI) scheme and related industries.
The new initiative aims to ease the process of bringing in skilled foreign professionals, which is expected to significantly bolster India's burgeoning advanced chemistry cell (ACC) battery manufacturing sector.
According to a statement by the IESA, the government will facilitate non-extendable, multiple-entry business visas for six months.
These visas will be available to subject matter specialists, engineers, and technical personnel involved in critical areas such as installation, commissioning, quality checks, maintenance, production, and supply chain development.
The approval process will be managed by the respective line ministries, ensuring sector-specific needs are met.
IESA President Debi Prasad Dash expressed optimism about the move, stating, "It will create an opportunity for an additional 100+ GWh of ACC battery and battery component factories in the next five years in India."
He emphasized that this sector has the potential to attract investments worth $9 billion (Rs 7.5 lakh crore) and create 50,000 direct jobs during this period.
Furthermore, the expansion of ACC manufacturing is expected to reduce India's reliance on imports, particularly from China, which currently dominates 75% of the global ACC production capacity and over 80% of the refining of critical minerals like lithium, nickel, and cobalt.
India's efforts to establish itself as a global hub for electric vehicle (EV) manufacturing hinge on developing a self-sustained supply chain for EV components, especially ACC batteries, which account for up to 50% of an EV's cost. In FY23-24, India imported Rs 24,346 crore worth of lithium-ion cells, primarily from China, South Korea, and Vietnam.
IESA has been a strong advocate for policies supporting the ACC battery industry and applauds the parity achieved in business visa facilitation between PLI-associated companies and ACC-PLI bid winners.
The alliance plays a pivotal role in advancing India's energy storage, green hydrogen, and e-mobility sectors.
(KNN Bureau)
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