The Ministry of Heavy Industries has awarded a 10 GWh capacity under the Production Linked Incentive Scheme for Advanced Chemistry Cell Battery Storage to Reliance New Energy Battery Limited, a subsidiary of Reliance Industries Limited. The signing of the Programme Agreement marks another milestone in the implementation of India's National Programme on Advanced Chemistry Cell Battery Storage. With this latest allocation, a total of 40 GWh capacity has been awarded to four beneficiary firms, bringing India closer to achieving its goal of 50 GWh domestic manufacturing capacity.
Swarajya: India's Quest for Energy Independence
Background
Swarajya, a Sanskrit term meaning self-governance, has long been a guiding principle in India's pursuit of economic and technological independence. This concept extends to the nation's energy sector, where the government is actively promoting domestic manufacturing and research to reduce dependence on imported fossil fuels.
Advanced Chemistry Cell Battery Storage
In line with this vision, the Ministry of Heavy Industries launched the National Programme on Advanced Chemistry Cell Battery Storage (ACC Battery Storage) in 2021. The program aims to encourage domestic production of advanced batteries for use in electric vehicles, energy storage systems, and other applications.
Under the program, the government offers financial incentives and support to eligible companies that invest in ACC battery manufacturing facilities in India. The incentives include Production Linked Incentive (PLI) schemes, which provide subsidies based on incremental production targets.
Reliance New Energy Battery's Allocation
On June 1, 2023, the Ministry of Heavy Industries awarded Reliance New Energy Battery Limited, a subsidiary of Reliance Industries Limited, a 10 GWh capacity under the PLI scheme for ACC Battery Storage. This allocation brings the total capacity awarded under the program to 40 GWh.
This award is a significant milestone in India's efforts to establish a domestic ACC battery manufacturing industry. It will enable Reliance to set up a large-scale manufacturing facility in the country and contribute to the nation's goal of achieving 50 GWh of domestic manufacturing capacity by 2025.
FAQs
1. What are the benefits of ACC Batteries? ACC batteries have higher energy density, longer lifespan, and faster charging times compared to conventional lead-acid batteries. They are ideal for use in electric vehicles and energy storage systems.
2. How will the PLI scheme benefit India? The PLI scheme will incentivize domestic production of ACC batteries, reduce import dependence, create jobs, and stimulate economic growth in the manufacturing sector.
3. What other companies have received ACC Battery Storage allocations? In addition to Reliance New Energy, three other companies have been awarded 10 GWh capacity each under the PLI scheme: Exide Industries, Tata AutoComp, and Ola Electric Technologies.
4. What is the significance of 50 GWh domestic manufacturing capacity? Achieving 50 GWh of domestic ACC battery manufacturing capacity will make India a global hub for battery production and meet the growing demand for electric mobility and energy storage in the country.
5. What are the government's other initiatives for energy independence? Beyond the ACC Battery Storage program, the government is also promoting renewable energy sources, such as solar and wind, and investing in hydrogen fuel research to diversify the nation's energy mix and reduce dependency on fossil fuels.
Indian Prime Minister Narendra Modi will be distributing more than 51,000 appointment letters to newly recruited youth through a virtual job fair in various government departments and organisations. This initiative, in its 15th edition, aims to provide meaningful employment opportunities for the country's youth and contribute to its progress. The recruitment drive, which has already offered over 10 lakh permanent government jobs since October 2022, highlights the government's commitment to tackling unemployment and empowering young individuals to participate in India's growth story. Additionally, the PM also highlighted India's partnership with 21 countries in improving migration and employment opportunities.
The Springfield Catholic Diocese's Bishop Thomas John Paprocki led a special Mass to honor the Sisters of St. Francis and celebrate the 100th anniversary of the founding of OSF HealthCare Saint Anthony's Health Center in Alton. The hospital, originally established as Saint Anthony's Infirmary, was the first Thuiner Franciscan house in the United States and has grown and adapted over the years while maintaining its founders' commitment to compassionate care. The hospital's Vice President of Operations and Special Projects credits the Sisters' determination and devotion to Christ's love for the hospital's success and continued impact on the community.
The Center for African and African American Studies at the University of Colorado Boulder is celebrating their recent receipt of a generous matching donation from Chancellor Philip P. DiStefano. With this support, the center aims to continue enriching the academic landscape and foster a sense of belonging for Africans, African Americans, and the African diaspora. Donations from individuals are greatly appreciated and will contribute to the center's growth and student opportunities. Interested in supporting the CAAAS? Contact Jazmin Brooks and join their Forever Buffs Black Alumni group or subscribe to their newsletter for updates.
In a recent podcast appearance, Ralph Lauren CEO Patrice Louvet shared his belief in a tough love approach to addressing serious issues at work. He emphasized the need for direct communication and not being afraid to use a "2X4 across the forehead" in critical situations. However, his comments have also sparked a debate on the effectiveness of this leadership style in today's modern workplace.
Tempest Advertising, a leading agency in purpose-driven creativity, has won the Gold Award in the Press Unreleased category at the 2025 IAA Olive Crown Awards for their striking campaign "Fast Fashion". Using AI technology, the campaign addresses the environmental impact of the fashion industry and calls for a shift towards more sustainable practices. With this win, Tempest solidifies its position as a leader in promoting responsible consumerism and guiding businesses towards a more sustainable future.
The highly anticipated bilateral trade agreement between India and the US is close to reaching a successful conclusion, according to US Treasury Secretary Scott Bessent. This deal would allow India to avoid the 26% reciprocal tariffs and increase trade to $500 billion by 2030. Negotiators from both countries are currently meeting in Washington to finalize the terms of the agreement, which is expected to be concluded by the fall of this year. With both sides eager to reach an agreement before the July tariff deadline, this deal has the potential to greatly benefit both nations' economies.
In a recent podcast interview, Ralph Lauren CEO Patrice Louvet discussed the delicate topic of giving criticism in the workplace. Louvet stressed the importance of addressing issues sooner rather than later, and how it can ultimately benefit both businesses and individual careers. He recognizes the difficulty in giving feedback, but advises a direct and honest approach in tackling major issues. However, for minor concerns, Louvet suggests focusing on employee strengths and gradually addressing weaknesses.
Suprabhat Mandal, a student from West Bengal, recently made headlines after successfully securing a position in three different banking exams. After a year of dedicated preparation, Mandal used the ADDA247 Bank Mahapack to help him learn from the basics to harder questions. Now, he is encouraging other successful candidates to share their stories and inspire others to never give up on their dreams.
British arts and crafts retailer Hobbycraft is undergoing a major restructuring of its retail operations under the ownership of private equity firm Modella Capital. While nine stores are set to close, including 72-126 jobs losses, the fate of other branches is still being reviewed. The company's CEO cited challenges faced by the retail sector as the reason for this necessary action.
In a move to boost economic ties between the two countries, US Vice-President JD Vance announced that America and India have finalized terms for a trade deal. This comes amid rising concerns over the impact of President Trump's reciprocal tariffs. Speaking at an event in Jaipur, Mr Vance emphasized the need for fair and mutually beneficial trade partnerships with countries that value labor rights and promote balanced, open, and stable global trade.