India's largest gold refiner emerges as key player in high-tech PLI schemes

The company topping the evaluations rankings is unlikely to ring a bell: Rajesh Exports

It was ranked at the top in a technical evaluation of bids by the government last month, ahead of formidable rivals such as Reliance Industries and Ola Mobility.

The evaluation was for selecting companies for attractive incentives to manufacture advanced chemistry cell batteries in India under the production-linked incentive (PLI) sch­eme. These batteries represent a crucial missing link in the cou­ntry’s tryst with electric vehicles (EVs). Cells account for 80 per cent of the cost of a lithium-ion battery and they are completely imported. The evaluation was based on a formula in which 70 per cent weight was given to co­mpanies