India Energy Storage Alliance Praises Budget 2025 for Clean Energy Vision
Key Ideas
- India Energy Storage Alliance (IESA) hails Budget 2025 as transformative for the energy sector, urging for production-linked incentives and GST cuts on key components.
- IESA's recommendations, if implemented, can boost India's position as a global hub for manufacturing and R&D in clean energy technologies.
- The alliance calls for reducing GST on batteries and electrolyzers to 5% to lower costs, encourage adoption, and foster growth in the renewable energy and hydrogen sectors.
- Key industry figures emphasize the positive impact of budget incentives on domestic manufacturing, sustainable future, and self-reliant energy ecosystem in India.
The India Energy Storage Alliance (IESA) has commended Budget 2025 as a transformative vision for the energy sector in India. The alliance has urged the government to provide production-linked incentives and GST cuts on batteries, charging infrastructure, and electrolyzers to accelerate the growth of renewables. With over 180 member companies from various industries including battery, e-mobility, and hydrogen, the IESA expressed gratitude to Finance Minister Nirmala Sitharaman for considering their pre-budget recommendations. The budgetary announcements were hailed as progressive and proactive steps towards establishing India as a global manufacturing and R&D hub for clean energy technologies. Post-budget, the alliance highlighted challenges faced by the Indian industry in scaling up large-scale manufacturing and recommended a dedicated incentive program for components like advance chemistry cells (ACC). The President of IESA, Vinayak Walimbe, emphasized the importance of initiatives like the National Manufacturing Mission and duty exemptions on raw materials to boost India's energy storage solutions industry. The alliance also called for a reduction in GST rates on batteries and electrolyzers to 5% to alleviate financial burdens and promote sector growth. Industry leaders like Vikram Handa and Rajat Verma praised the budget's focus on fostering a robust cleantech ecosystem and securing India's sustainable future through domestic manufacturing and critical minerals recycling. The Chairman of ACME Group, Manoj Upadhyay, highlighted the budget's emphasis on renewable energy and green hydrogen, foreseeing a sustainable and self-reliant energy ecosystem in India. Overall, the IESA's recommendations aim to propel India towards leadership in clean energy transition and establish a conducive environment for the growth of the energy storage and renewable sectors in the country.