LOHUM CEO Rajat Verma: PLI schemes to propel India
POWER & RENEWABLE ENERGY

LOHUM CEO Rajat Verma: PLI schemes to propel India

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.     

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.     

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?