Regulatory Action by Sebi Raises Concerns Over Rajesh Exports' Battery PLI Project

India's Battery Manufacturing Ambitions in Jeopardy as Rajesh Exports Faces Regulatory Scrutiny

New Delhi - A recent interim order from the market regulator has thrown a wrench into the plans of Rajesh Exports, one of India's leading players in the battery manufacturing sector. The company's ambitious project, aimed at capitalizing on the Centre's ₹18,100-crore production-linked incentive scheme for advanced chemistry cells (PLI ACC), is now facing an uncertain future.

According to sources, the market regulator's move has sparked fresh questions about the viability of Rajesh Exports' battery manufacturing project. The PLI ACC scheme, launched with great fanfare in 2021, was designed to promote domestic production of advanced chemistry cells and help India become self-sufficient in battery manufacturing. With an allocation of ₹18,100 crores, the scheme was intended to give a significant boost to the sector.

However, the regulatory order against Rajesh Exports has cast a shadow over the company's ability to meet the scheme's requirements. The implications of this move are far-reaching, and it remains to be seen how the company will navigate the challenges ahead. As the regulatory scrutiny continues, the future of Rajesh Exports' battery manufacturing project hangs in the balance.

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