In line with India’s global commitment of tackling climate change, says Tata Chemicals COO on Budget 2022

Shohab Rais, Chief Operating Officer, Indian Chemical Business, Tata Chemicals, “The government this year is very clear on its move towards enabling energy transition through provisions for boosting domestic manufacturing of solar power equipment and batteries, in line with India’s larger global commitment of tackling climate change. The government’s major allocation is towards focusing on the growth of grid-connected energy storage and supporting incentives for green bonds. The budget is very well thought through in terms of enhancing domestic value addition by reducing customs duty on certain critical chemicals namely methanol, acetic acid, and heavy feedstocks for petroleum refining, while duty is being raised on sodium cyanide for which adequate domestic capacity exists. Also, PM Gatishakti and specifically, focus on waterways, ports, roads, and railways, coupled with the proposed unified logistics’ interface platform will help improve supply chain efficiency and reduce logistics’ costs across sectors”.