MHI Hosts Post-Budget Webinar on E-Mobility and Capital Goods, Unveils Strategic Initiatives for Sustainable Growth

Minister of State Bhupathiraju Srinivasa Varma reiterated the importance of the automotive sector in India's journey towards becoming a $5 trillion economy.

The Ministry of Heavy Industries (MHI) recently organized a Post-Budget Webinar titled "E-Mobility, Capital Goods, and the Way Forward" at Udyog Bhawan, New Delhi. The event was chaired by Union Minister H.D. Kumaraswamy, with participation from Minister of State Bhupathiraju Srinivasa Varma, MHI Secretary Kamran Rizvi, Additional Secretary & Financial Advisor Arti Bhatnagar, Additional Secretary Dr. Hanif Qureshi, senior officials from MHI, CPSEs, and leaders from the automotive sector.

In his keynote address, Union Minister H.D. Kumaraswamy highlighted the government's commitment to advancing India's electric vehicle (EV) ecosystem, emphasizing the alignment with Prime Minister Narendra Modi’s vision for "Viksit Bharat 2047" and the goal of achieving net zero emissions by 2070. He pointed out that MHI is driving this mission through key initiatives like the Production-Linked Incentive (PLI) scheme, Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME), the Electric Mobility Promotion Scheme (EMPS), and advanced capital goods programs, which are crucial to accelerating India's self-reliance and sustainable growth.

Minister of State Bhupathiraju Srinivasa Varma reiterated the importance of the automotive sector in India's journey towards becoming a $5 trillion economy. He emphasized the role of MHI in fostering innovation and self-reliance through initiatives such as the PLI Scheme for Automobiles and Auto Components, envisioning a sustainable and prosperous future for the country.

The webinar provided an in-depth analysis of the Union Budget 2024-25, with a particular focus on expanding the electric vehicle ecosystem, including manufacturing and charging infrastructure. Discussions highlighted the increased adoption of electric buses in public transport networks, supported by payment security mechanisms.

A notable development discussed was the completion of indigenous technology for Advanced Ultra Super Critical (AUSC) thermal power plants, which offer significantly higher efficiency. A joint venture between NTPC and BHEL will establish an 800 MW commercial plant using AUSC technology, with government-backed fiscal support.

Key initiatives outlined during the webinar include:

PLI AUTO Scheme: With an approved outlay of ₹25,938 crore, this scheme aims to boost domestic manufacturing and promote localization in the automotive sector.

PLI ACC Scheme: An outlay of ₹18,100 crore has been approved for 50 GWh to enhance India’s Advanced Chemistry Cell (ACC) manufacturing capabilities.

EMPS Scheme: With a budget of ₹778 crore, this scheme is designed to support EV manufacturing, particularly for two-wheelers (2Ws) and three-wheelers (3Ws).

SMEC Initiative: Aimed at attracting global EV investments, this initiative requires a minimum investment commitment of ₹4,150 crore.

Capital Goods Scheme: With a combined outlay of ₹2,203 crore across two phases, this scheme is focused on stimulating investment, strengthening technological capabilities, and boosting domestic manufacturing.

The webinar saw participation from notable figures including Sudhendu J. Sinha, Adviser at NITI Aayog, officials from the Ministry of Housing and Urban Affairs, and the Ministry of New and Renewable Energy, as well as industry leaders such as SIAM President Vinod Aggarwal, representatives from ACMA, ICEMA, and companies like Reliance Jio BP, Adani Power, Statiq, Tata Power, Maruti, Mahindra, Volkswagen, Ather, IESA, Tata Motors, L&T, and IEEMA.

This strategic gathering underscored the government's ongoing efforts to foster innovation, promote sustainability, and enhance India’s position in the global automotive and capital goods sectors.