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Market Chatter: India to Provide 130 Billion Rupees Aid for Battery Parts Makers

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India plans to pour up to 130 billion rupees in aid for advanced battery cell component manufacturers to reduce dependency on Chinese suppliers, Bloomberg reported Thursday, citing people familiar with the matter.

The incentives will cover makers of anode and cathode active materials, electrolytes, separator films, and copper foils, according to the report.

The Indian finance ministry's Expenditure Finance Committee will look into the proposal after consultations with other ministries, Bloomberg said.

India's Ministry of Heavy Industries did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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