In a big fillip for India's Aatmanirbhar Bharat ambitions and its efforts to reduce the dependence on imports from China, the government is planning to set up three large manufacturing zones of power and clean energy equipment where companies will be offered incentives including land and electricity at attractive prices, reports Livemint.
The development was made public by Union Minister for New and Renewable Energy Raj Kumar Singh. Building these zones is a part of India’s campaign to encourage self-reliance and reduce dependence on Chinese power equipment.
The government has already prepared a list of the equipment which it wants to be manufactured in these three zones locally. Also, each of these zones will be spread over a minimum area of 300 acres.
The three zones will come up in a coastal state, a hill state and a land-locked state, which will be selected through a competitive challenge between the states and will involve parameters like incentives and prices of land and electricity.
The development gains significance as India had imported Rs 71,000 crore of power equipment in 2018-19 in the conventional power space, and nearly Rs 20,000 crore of this was sourced from China.
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