Nitin Gupta with Finance Minister Nirmala Sitaraman
Nitin Gupta with Finance Minister Nirmala Sitaraman

Nitin Gupta meets Finance Minister Nirmala Sitaraman

ANI | Updated: Oct 16, 2019 14:53 IST

New Delhi [India] Oct 16 (ANI): Nitin Gupta, Managing Director, Cosmo-Tech Solutions, Pune, along with Senior Directors of SRAM & MRAM met Nirmala Sitaraman, Finance Minister of India, during her visit to Pune. During the meeting, Nitin Gupta briefed the Finance Minister about the proposed business venture in EV batteries in India in compliance with the government's policy push to expedite e-Mobility solutions.
Cosmo-Tech's unique solutions are researched and developed at the latest high-tech state-of-the-art plant in Pune. The battery would use the latest lithium-ion battery pack technology. The team also appraised the Finance Minister on the futuristic approach of Cosmo-Tech's integrated solutions to solar renewable energy and their association with SRAM & MRAM Group, headed by Dr Sailesh Lachu Hiranandani, a visionary and tech investor and holder of multiple IPR's. The team also explained about SRAM & MRAM's existing initiative on e-Mobility and their tie-ups with CSEPEL Hungary NYRT.
CSEPEL has proven technological expertise to provide for over a million EV buses to be distributed by SRAM & MRAM across the globe in at least 18 countries. SRAM & MRAM and CSEPEL are planning to operate at least three plants in India with a pooled capacity 10,000 bus per year & also various other south Asian countries like Bangladesh, Cambodia, Indonesia etc with unique arrangements with respective governments.
Nirmala Sitaraman appreciated the efforts of Nitin Gupta and the team from Cosmo-Tech and SRAM & MRAM for taking special cognisance of the Indian Government's thrust for environment-friendly e-Mobility solutions and their focus to move away from fossil fuels to alternative energy solutions and reduce their reliance of oil imports a large drag on the countries CAD.
The business plans of SRAM & MRAM and COSMOTECH include comprehensive maintenance infrastructures along with charging stations and other innovative solutions of SRAM MRAM specifically tailor-made for the Indian semi-urban & rural areas to increase the efficiency of e- two & three wheelers & solar power plants.
Cosmo-Tech has sought support from the government for scalability with faster time schedule for land, power & tax exemption to bridge gap in resources to achieve this business plan successfully helping country to limit imports, arrest pollution, & help their existing solar power plant to increase their output efficiency thereby again bridging lag in solar power generation thus reducing the imports of solar panels from China.
Besides, Nitin Gupta requested the Finance Minister to consider guidance under the FAME II scheme & various other incentives, declared as major government policy to benefit the companies push towards e-mobility and also thanked her for her valuable time amidst a hectic schedule.
This story is provided by National Mind-set. ANI will not be responsible in any way for the content of this article. (ANI)