Modi govt plans state aid for solar factories
A 210b-rupee package is on the cards to lift installed photovoltaic capacity and to create an export industry
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New Delhi
PRIME Minister Narendra Modi's government is planning a 210 billion-rupee (S$4.4 billion) package of state aid for India's solar panel manufacturing industry, according to two officials.
The so-called Prayas initiative, short for for "Pradhan Mantri Yojana for Augmenting Solar Manufacturing", is a central-government plan designed to lift India's installed photovoltaic capacity as well as to create an export industry, according to two senior government officials with direct knowledge of the plan. They asked not to be identified because the policy isn't yet public.
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