Govt to rope in global firms to set up mfg units for solar cells, batteries, charging infra

The government will launch a scheme to bring 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.

The scheme was proposed in the General Budget presented by Finance Minister Nirmala Sitharaman on Friday.

"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," she said.

The finance minister said 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 government will "provide them investment linked income tax exemptions under 35 AD of the Income Tax Act and other indirect tax benefits."