HD Kumaraswamy Reviews Financing for Electric Buses, Trucks; Focus on Made-in-India Battery Components
New Delhi: Financing for electric buses and trucks and domestic manufacturing of critical battery components were among the issues reviewed by Union Minister H.D. Kumaraswamy, who said industrial policy must translate into investment, employment and reduced dependence on imports.
Kumaraswamy chaired a series of review meetings with senior Ministry of Heavy Industries officials to assess initiatives aimed at strengthening industrial capabilities, advancing manufacturing and improving the competitiveness of domestic industries.
In a post on X, he said the discussions covered the Production Linked Incentive (PLI) schemes for automobiles and auto components and Advanced Chemistry Cell (ACC) Battery Storage, alongside indigenous battery-component manufacturing and measures to facilitate financing for electric buses and trucks.
Electric Vehicle Financing and Battery Manufacturing in Focus
The review brought together financing measures for electric buses and trucks with efforts to strengthen the domestic production of critical battery components.
Kumaraswamy said officials examined initiatives to promote indigenous manufacturing of these components as well as progress under the PLI Scheme for ACC Battery Storage.
The discussions also covered the PLI Scheme for the Automobile and Auto Component Industry as part of the ministry’s assessment of key manufacturing initiatives.
The minister identified greater domestic value addition and technological advancement as priorities, alongside attracting investment and generating employment.
“Our priority remains to translate policy initiatives into tangible industrial outcomes through greater domestic value addition, technological advancement, investment, employment generation and reduced import dependence,” Kumaraswamy said.
Andrew Yule’s Performance and Future Direction Reviewed
The meetings also included a review of Andrew Yule & Company Limited (AYCL).
Kumaraswamy said the discussions examined the company’s performance and future direction, with emphasis on improving operational efficiency, ensuring financial sustainability and strengthening its industrial capabilities.
The company-specific review formed part of the wider discussions with ministry officials on industrial performance and manufacturing competitiveness.
Emphasis on Industrial Outcomes
Kumaraswamy said the government remained committed to building a resilient, self-reliant and globally competitive manufacturing sector under Prime Minister Narendra Modi’s leadership.
He linked the ministry’s priorities to the vision of Viksit Bharat, with the stated focus on turning policy initiatives into concrete gains in domestic production, technology, investment and jobs.
The review covered progress and measures under consideration; the post did not announce a new financing package or specify lending terms for electric buses and trucks.
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