India to pick international cos to set up manufacturing units for solar cells, batteries, charging infra

The government of India will launch a scheme to rope in global firms for setting up mega manufacturing plants in India for solar cells, batteries and solar charging infrastructure through auction and provide tax benefits on these investments.

Union Finance Minister Nirmala Sitharaman proposed this scheme as part of the announcements made in the general budget.

She said, “Government will launch a scheme to invite global companies through transparent bidding to set up mega manufacturing plants in sunrise and advanced technology areas such as semiconductor fabrication.”

According to Nirmala, the scheme will include units in the fields of solar photo voltaic cells, lithium storage batteries, solar electric charging infrastructure, computers servers, laptop etc.

The Minister added: “The government will “provide them investment linked income tax exemptions under 35 AD of the Income Tax Act and other indirect tax benefits.”

Image Credit : iamWire.com

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