KOTRA Holds 'India Energy Storage Export Consultation'

[Asia Economy Reporter Jin-ho Kim] KOTRA announced on the 13th that it will hold the 'Korea-India Energy Storage Sector Briefing and Export Consultation Meeting' online to support the export of our energy storage companies to India.

On the first day of the event, the 14th, a market trend webinar will be held. The India Energy Storage Association (IESA), India's largest lithium-ion battery manufacturer Wari, and the India-Switzerland joint venture Nexcharge will participate and present on topics such as ▲India's energy storage industry policies ▲India energy market outlook ▲status of major local companies.

In the one-on-one export consultation meeting held after the briefing, 15 Indian buyers and 35 domestic companies will participate to conduct consultations in a wide range of fields including battery materials and parts exports, introduction of manufacturing facilities and inspection equipment, and establishment of joint ventures.

In particular, Reliance New Energy and Rajesh Exports, selected for the $2.3 billion PLI (Production Linked Incentive) program promoted by the Indian government, will hold consultations with domestic battery pack parts manufacturers and energy storage solution providers.

KOTRA's South Asia Regional Headquarters and IESA will sign a memorandum of understanding (MOU) to expand exchanges among energy storage companies in the future, promoting ▲sharing of energy storage industry information ▲cooperation on joint projects to accelerate support for our companies' entry into the Indian market.

India recently announced plans to increase its electricity generation capacity from renewable energy sources such as solar, wind, and bio to 500GW by 2030, a fivefold increase from the current level. Demand for storage technology to complement the intermittency of renewable energy is expected to increase accordingly. Korea's ESS parts and manufacturing facilities, which have a high level of quality control, are expected to be competitive in the growing Indian energy storage industry market.

Bin Junhwa, head of KOTRA's South Asia Regional Headquarters, said, "The current situation, where the Indian government provides active support and there is high demand, can be a good opportunity for our energy storage companies to enter the Indian market," adding, "Although the Indian market still prefers low prices, if differentiated by high quality and market-friendly products, our companies can achieve good results."

This content was produced with the assistance of AI translation services.