LOHUM CEO Rajat Verma: PLI schemes to propel India

08 Jul 2024 CW Team

Verma highlighted that current government incentives are mainly focused on cell manufacturing. "The government has discussed potential PLIs for CAM, as well as for the production and recycling of critical materials. These conversations are ongoing," Verma explained. He praised the existing PLI schemes for enhancing the global competitiveness of Indian manufacturers and called for their expansion. "The more such PLI schemes there are, the greater the chances that India will establish a significant presence in the global critical minerals and battery supply chain," he added.

Addressing technological challenges, Verma noted that India lags approximately 5 to 8 years behind China in battery technology development. He underscored the importance of India developing its own technology to compete globally. Drawing a parallel with India's mobile manufacturing sector, which has recently gained a substantial share of the global market, Verma suggested a similar growth trajectory for the battery sector.

On the policy front, Verma expressed his opposition to outright bans on imports, such as those on Chinese solar modules, advocating instead for protective tariffs to support local industries. "I'm not in favour of complete bans, but to support the local industry, tariffs should be imposed on foreign materials competing with locally produced materials," he said.

Looking ahead, Verma is optimistic about India's potential in the battery sector, influenced by global geopolitics seeking diversification from Chinese products. "Everyone is looking for a China + 1 strategy, and I think if India implements the right policies, relevant PLI schemes, and appropriate tariff structures, there's a good chance this sector will become a sunrise industry for the country," Verma projected.

He also shared ambitious targets for India's market share in the global battery sector, aiming for at least a 5% share in the next three to five years. In line with these goals, LOHUM plans to expand its recycling capacity from 5 GWh to 30 GWh over the next three years, with an investment of Rs 12 billion.

In a strategic move to boost India's standing in the global battery manufacturing sector, Rajat Verma, CEO of LOHUM, has advocated for the expansion of government Production Linked Incentive (PLI) schemes. In an interview with ET Energyworld, Verma stressed the need for broader incentives that encompass not only cell manufacturing but also critical materials and recycling, aiming to position India competitively on the international stage.Verma highlighted that current government incentives are mainly focused on cell manufacturing. The government has discussed potential PLIs for CAM, as well as for the production and recycling of critical materials. These conversations are ongoing, Verma explained. He praised the existing PLI schemes for enhancing the global competitiveness of Indian manufacturers and called for their expansion. The more such PLI schemes there are, the greater the chances that India will establish a significant presence in the global critical minerals and battery supply chain, he added.Addressing technological challenges, Verma noted that India lags approximately 5 to 8 years behind China in battery technology development. He underscored the importance of India developing its own technology to compete globally. Drawing a parallel with India's mobile manufacturing sector, which has recently gained a substantial share of the global market, Verma suggested a similar growth trajectory for the battery sector.On the policy front, Verma expressed his opposition to outright bans on imports, such as those on Chinese solar modules, advocating instead for protective tariffs to support local industries. I'm not in favour of complete bans, but to support the local industry, tariffs should be imposed on foreign materials competing with locally produced materials, he said.Looking ahead, Verma is optimistic about India's potential in the battery sector, influenced by global geopolitics seeking diversification from Chinese products. Everyone is looking for a China + 1 strategy, and I think if India implements the right policies, relevant PLI schemes, and appropriate tariff structures, there's a good chance this sector will become a sunrise industry for the country, Verma projected. He also shared ambitious targets for India's market share in the global battery sector, aiming for at least a 5% share in the next three to five years. In line with these goals, LOHUM plans to expand its recycling capacity from 5 GWh to 30 GWh over the next three years, with an investment of Rs 12 billion.

Infrastructure Urban

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Infrastructure Transport

07 Oct 2025

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Infrastructure Transport

07 Oct 2025

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..