Electric vehicles to get Rs 2.2 lakh cr in capex by 2030: Crisil
According to a report by Crisil, electric vehicles and the auto value chain in India will get around Rs 2.2 lakh cr of investments in the next 8 years, up from Rs 0.5 lakh cr in the 2015-22 period.
Total auto/transport related investments will go up from Rs 4.2 lakh crore in 2015-2022 period to Rs 5.4 lakh crore in the 2023-2030 period. But majority of India’s green capex will come from the power sector going up from Rs 6.4 lakh crore to nearly Rs 19 lakh crore. “Green capex will be 50-55% of the total annual investment spend,” said the report.
Already auto and solar together comprise 65% of the capex committed under the PLI schemes said the report. The PLI scheme will generate capex of Rs 2.2-2.5 lakh crore of which 55% will be green capex in segments like solar, EV, batteries and others. Solar comprises 25% of this capex kitty while auto comprises 15% said the report.
Power Ministry eases 79 compliances
The Power Ministry announced that it had eased 79 burdensome compliances related to issues affecting the industry and consumers during the past two years in the first phase of Action Plan 2022 of Ease of Doing Business (EoDB).
“Various regulations made by the CEA and CERC have been repealed or amended to aim at less regulation and simplification. Implementation of the Standards & Labelling program has been simplified under DISHA by BEE,” the ministry said in a statement.
The EoDB-RCB exercise focuses on reducing compliances related to licenses, certificates, permissions, renewals, inspections, returns and filings, registers or records, decriminalization, and involves assessment of regulations including repeal of redundant laws.