India’s PLI Auto scheme sees modest start with ₹500 crore claims in FY24, industry anticipates surge by FY26
1 month, 1 week ago

India’s PLI Auto scheme sees modest start with ₹500 crore claims in FY24, industry anticipates surge by FY26

Live Mint  

The first wave of claims for India's automobile production incentives scheme barely touched ₹500 crore, an amount that may grow exponentially in the years ahead as the electric revolution unfolds and more products secure certification. The PLI scheme, which covers both automakers and component makers, was designed to stimulate production in advanced automotive and EV sectors by providing financial incentives to companies meeting set localization and sales criteria. “As electric cars, trucks, and more domestic EV components come into play, we foresee this funding to be fully utilized," a second industry executive said, adding the scheme, though initially challenging, has significant financial benefits that will attract more manufacturers in the coming years. Despite the slow start, government and industry stakeholders are confident that the PLI scheme will eventually meet its goals of fostering advanced automotive technologies and increasing India’s share in the global EV market.

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History of this topic

India to expand EV manufacturing incentives after Tesla disappointment, source says
3 weeks, 3 days ago

India to expand EV manufacturing incentives after Tesla disappointment, source says

Live Mint  

* Incentives to be expanded to automakers using existing plants * Policy originally designed to lure Tesla to manufacture in India * Changes designed to encourage EV investment by other automakers * Policy rules expected to be finalised by March 2025 By Aditi Shah NEW DELHI, Nov 29 - India plans to expand electric vehicle incentives to automakers building models …

PLI expansion on hold as government prioritises existing schemes amid disbursement challenges
4 weeks ago

PLI expansion on hold as government prioritises existing schemes amid disbursement challenges

Live Mint  

New Delhi: India's production sops programme which powered a ₹13 trillion manufacturing boom may not add any more sectors soon in the wake of slowing disbursements, two people aware of the matter said. Textiles companies making apparel out of manmade fiber must invest a minimum of ₹300 crore and achieve sales of at least ₹600 crore in FY25. While the …

PLI disbursement negligible in FY25
1 month ago

PLI disbursement negligible in FY25

New Indian Express  

NEW DELHI: The disbursal of payments under the Production-linked Incentive Scheme has been negligible in the current financial year, and the government is clueless about the reasons why companies are not claiming the benefits. Till last financial year, the government had paid nearly Rs 10,000 crore, and this year the disbursement has been less than Rs 1,000 crore. The same …

Govt advances FY26 subsidy funds for e-three wheelers
1 month ago

Govt advances FY26 subsidy funds for e-three wheelers

Live Mint  

The Union government has decided to advance the PM E-Drive subsidy funds for over 120,000 electric three-wheelers, which were set to be used from April to the end of FY25. PM E-Drive is the government's flagship subsidy scheme which provides demand incentives by subsidizing the price of electric vehicles for customers. The decision comes as the allocated subsidy for the …

Electric 3-wheeler subsidies for FY25 halt as sales hit cap
1 month, 1 week ago

Electric 3-wheeler subsidies for FY25 halt as sales hit cap

Live Mint  

New Delhi: The removal of a central government subsidy will likely make popular electric three-wheelers dearer for the rest of this fiscal, potentially disrupting their sales from manufacturers such as Bajaj Auto, Mahindra Last Mile Mobility and Piaggio, among others. Impact of no more subsidy in FY25 Electric vehicle manufacturers expect the government’s decision to push up prices of these …

Auto industry crosses ₹20 lakh crore mark in FY-24; contributes 14-15 pc to total GST: SIAM President
3 months, 1 week ago

Auto industry crosses ₹20 lakh crore mark in FY-24; contributes 14-15 pc to total GST: SIAM President

The Hindu  

The Indian automotive industry has crossed ₹20 lakh crore mark in FY24 and now contributes 14-15% of the total GST collected in the country, SIAM President Vinod Aggarwal said on Monday. "The Indian automotive industry has crossed a landmark figure of Rs 20 lakh crore in FY24.we are contributing almost 14-15 per cent of the total GST collected in the …

The way forward for investments in the EV space | Explained
5 months, 1 week ago

The way forward for investments in the EV space | Explained

The Hindu  

The story so far: According to media reports, the government is looking to expand the scope of its electric vehicle policy, announced in March, to include a retrospective effect. The policy announced in March aimed to provide Indian consumers with access to the latest technology and strengthen the EV ecosystem by encouraging healthy competition among EV players by attaining higher …

Extension of EMPS 2024 Scheme to Support EV Two-Wheeler Sales in FY25
5 months, 2 weeks ago

Extension of EMPS 2024 Scheme to Support EV Two-Wheeler Sales in FY25

Deccan Chronicle  

Chennai: Likely extension of Electric Mobility Promotion Scheme 2024 is expected to support electric two-wheeler sales in FY25. According to Care Ratings, the two-wheeler industry is expected to sustain a steady volume growth rate of around 7-9 per cent in FY25, slightly lower than 9.8 per cent growth achieved in FY24. In FY23, EV sales reached around 0.73 million units, …

India wants to be world's car factory. A plan is in the works
9 months ago

India wants to be world's car factory. A plan is in the works

Live Mint  

A grand vision is taking shape to build a global automobile hub in India, potentially supporting both electric and conventional vehicles, as well as new mobility and battery technologies. Over the years, the Centre has put its weight behind zero-emission EVs; however, the coming discussions will consider whether conventional internal combustion engine vehicles need support as well, two people aware …

Delhi EV policy extended till May
9 months, 1 week ago

Delhi EV policy extended till May

The Hindu  

Delhi Transport Minister Kailash Gahlot on Friday announced that the Electric Vehicle Policy 2020, will be extended till the end of May. All current incentives and subsidies remain intact, and any vehicles purchased from January 1 onwards will be eligible for the benefits under this extension, a Delhi government statement said. Comments and suggestions from various stakeholders are currently being …

Interim Budget 2024: Here's how government can boost domestic manufacturing
10 months, 3 weeks ago

Interim Budget 2024: Here's how government can boost domestic manufacturing

India Today  

The countdown to the Interim Budget 2024-25 has begun, and leaders from various sectors are voicing their hopes and expectations, particularly centered around strengthening domestic manufacturing. Ashok Rajpal, Managing Director of Ambrane India, highlighted the positive impact of Production-Linked Incentive schemes and manufacturing incentives on the consumer electronics industry. “The PLI schemes and various manufacturing incentives have already proven instrumental …

PLI schemes attracted Rs 1.03 lakh crore investment said center
11 months ago

PLI schemes attracted Rs 1.03 lakh crore investment said center

Deccan Chronicle  

New Delhi: The government on Wednesday said that production-linked incentive or PLI schemes witnessed over Rs 1.03 lakh crore of investment till November 2023, which led to production and sales of Rs 8.61 lakh crore as well. As per the statement issued by the commerce ministry, in such schemes, it also saw an employment generation, both direct and indirect, of …

Will never give company-specific incentives in EV sector, govt. official on Tesla's demand
1 year ago

Will never give company-specific incentives in EV sector, govt. official on Tesla's demand

The Hindu  

India will never provide company or enterprise-specific incentives in the electric vehicle sector, a top government official said on Friday, amid a push from American electric carmaker Tesla for special sops to set up its factory in the country. The official added that inter-Ministerial discussions have happened on the customs duty concession demand of the U.S.-based electric car maker Tesla, …

Over 30 companies may qualify for IT hardware PLI scheme: Report
1 year, 2 months ago

Over 30 companies may qualify for IT hardware PLI scheme: Report

Live Mint  

Over 30 companies are expected to qualify for ₹17,000 crore production linked incentive scheme for IT hardware manufacturing, said a report by news agency PTI citing a government official. Among the domestic companies, Padget, VVDN, Netweb, Syrma, Optiemus, Sahasra, Neolync, Panache, Sojo, and Kaynes Technologies had applied for the PLI scheme. In the first year of the PLI scheme almost …

India's automotive industry poised to rank number 3 in world by 2030: Govt
1 year, 3 months ago

India's automotive industry poised to rank number 3 in world by 2030: Govt

Deccan Chronicle  

New Delhi: India's automotive industry is poised to rank number three in the world by 2030, with various schemes like the Rs 25,938 crore PLI for Automobile and Auto Components supporting the sector's growth, the government said on Monday. “MHI considers the PLI-Auto applicants of automotive industry as one of the crucial stakeholders of the scheme,” the ministry stated. “The …

Auto OEMs sceptical on PLI payments
1 year, 4 months ago

Auto OEMs sceptical on PLI payments

Live Mint  

NEW DELHI : Companies applying for the automotive and auto components production-linked incentive scheme fear they may not be able to meet all of the government’s requirements to receive the incentives this fiscal, multiple industry sources said, citing lengthy, “onerous" and complex procedures. “The auto PLI scheme provides that an application for claim of incentives in respect of any financial …

Cabinet approves ₹17,000 crore PLI scheme for IT hardware
1 year, 7 months ago

Cabinet approves ₹17,000 crore PLI scheme for IT hardware

Hindustan Times  

The Union Cabinet on Wednesday approved the second phase of the Production Linked Incentive or PLI scheme for IT hardware, in order to accelerate domestic manufacturing of hi-tech electronics, building on efforts that catapulted India to become the second-largest mobile phone manufacturer in the world. “This scheme will boost employment, strengthen our eco-system for innovation and lead to greater investments.” …

Govt. more than doubles outlay on PLI for IT hardware to ₹17,000 crore
1 year, 7 months ago

Govt. more than doubles outlay on PLI for IT hardware to ₹17,000 crore

The Hindu  

The Union Cabinet on Wednesday approved an updated Production Linked Incentive scheme for IT hardware manufacturing, with the total budgetary outlay increased to ₹17,000 crore, Minister of Electronics and Information Technology Ashwini Vaishnaw announced. “This year it crossed a major benchmark in production – $105 billion.” India crossed $11 billion in mobile phone exports, and was now the second-largest mobile …

Cabinet clears ₹17,000 cr-IT Hardware PLI Scheme 2.0
1 year, 7 months ago

Cabinet clears ₹17,000 cr-IT Hardware PLI Scheme 2.0

The Hindu  

The Cabinet, chaired by Prime Minister Narendra Modi, on May 17 approved the Production Linked Incentive Scheme 2.0 for IT Hardware with a budgetary outlay of ₹17,000 crore. PLI Scheme 2.0 for IT hardware covers laptops, tablets, all-in-one PCs, servers and ultra-small form factor devices. The government in February 2021 approved the PLI scheme for IT hardware, covering the production …

Around ₹30cr disbursed by government under drone PLI scheme: Official
1 year, 8 months ago

Around ₹30cr disbursed by government under drone PLI scheme: Official

Hindustan Times  

The government has disbursed around ₹30 crore during fiscal year 2022-23 under the Production Linked Incentive Scheme for 12 drone manufacturers and 11 drone component manufacturers, a government official confirmed to HT. “The eligibility norm for Ministry of Micro, Small and Medium Enterprises and startups is at nominal levels and the coverage of the scheme also includes developers of drone-related …

Production Linked Incentive Scheme: How does it aim to drive India’s economic growth?
1 year, 10 months ago

Production Linked Incentive Scheme: How does it aim to drive India’s economic growth?

Live Mint  

The Union Budget 2023-24 has allocated Rs 8,083 crore for various production linked incentive schemes. Production Linked Incentive Schemes in India have been gaining traction as a policy tool to promote manufacturing and spur economic growth. In India, the government introduced the Production Linked Incentive Scheme in April 2020, with the aim of promoting manufacturing activities in the country. The …

Auto sector gets boost, electric vehicles to become cheaper
1 year, 10 months ago

Auto sector gets boost, electric vehicles to become cheaper

Deccan Chronicle  

PUNE: Indian automobile industry honchos and experts on Wednesday said various provisions and outlays in the budget would boost auto sales all around, including electric vehicles. “The increase in outlay for capital spending, increase in spending on infrastructure, setting up 50 new Airports, creation of 100 Transport Infrastructure projects, central support for replacing old vehicles should all drive demand of …

Union Budget 2023-24: Consumer Electronics sector expects proposals to bolster its growth
1 year, 10 months ago

Union Budget 2023-24: Consumer Electronics sector expects proposals to bolster its growth

Firstpost  

It would also be very helpful to the sector if the government provides incentives for the domestic design and manufacture of electronics Around 62 per cent of industry leaders were optimistic about India’s growth prospects in 2023, according to a recent survey by Deloitte. Outlook for electronics sector In recent years, there has been a lot of discussion around India …

Budget 2023-24 Expectation: EV industry aspires reduction in GST, extension of FAME II subsidy
1 year, 10 months ago

Budget 2023-24 Expectation: EV industry aspires reduction in GST, extension of FAME II subsidy

Firstpost  

The upcoming budget is an opportunity for the government to take further steps to support the growth of the industry and make electric vehicles more accessible to Indian consumers Envision a world where Indian streets are filled with the tranquil noise of electric vehicles running on clean energy. With the program set to expire in March 2024, the industry is …

Budget 2023: 7 experts list what the auto sector expects from this year’s budget
1 year, 11 months ago

Budget 2023: 7 experts list what the auto sector expects from this year’s budget

Live Mint  

The Union Budget for the year 2023-24 will be presented by Finance Minister Nirmala Sitharaman in the Parliament on February 1, the last full Budget of the Modi government before the 2024 general elections. 2) Nirvi Ashar - Fundamental Analyst, Religare Broking said, "The expectations for the budget are high that the government may provide some policies to promote exports; …

Union Budget 2023: Govt likely to announce PLI scheme for more sectors to cover high-employment fields
1 year, 11 months ago

Union Budget 2023: Govt likely to announce PLI scheme for more sectors to cover high-employment fields

India TV News  

Budget 2023: In an attempt to expand Production Linked Incentive scheme to cover more high-employment potential sectors, the Union government is likely to extend fiscal incentives for the production of toys, bicycles and leather and footwear in the forthcoming budget. A proposal to extend PLI scheme benefits to different sectors such as toys and leather are at advanced stages of …

Budget 2023: What Awaits India’s EV Sector
1 year, 11 months ago

Budget 2023: What Awaits India’s EV Sector

ABP News  

As the fight against climate change intensifies, we are witnessing an increasing adoption of electric vehicles against their internal combustion engine counterparts. With the growing manufacturing scope of electric vehicles, various EV component manufacturers have also shown remarkable success in developing indigenous advanced battery technologies. Speaking of the current tax scene in the industry, the GST rate on EV buyers …

Budget 2023 | Govt May Bring Incentive Scheme To Boost Local Chip Manufacturing: Report
1 year, 11 months ago

Budget 2023 | Govt May Bring Incentive Scheme To Boost Local Chip Manufacturing: Report

ABP News  

As the world’s chip shortage problem persists, the central government is likely to incentivise local chip manufacturing. According to a report by the Economic Times, the Ministry of Electronics and IT is working on an incentive scheme, worth around Rs 10,000 crore to Rs 12,000 crore, to promote domestic manufacturing of high-end components that could go into products such as …

12 Electric Vehicle Automakers under Probe for Violation of FAME Subsidy Guidelines
2 years ago

12 Electric Vehicle Automakers under Probe for Violation of FAME Subsidy Guidelines

News 18  

The government is probing 12 automakers including Hero Electric Vehicles and Okinawa Autotech for alleged misappropriation of subsidies under the Rs 10,000 crore FAME scheme, Union Heavy Industries Minister Mahendra Nath Pandey informed Parliament on Tuesday. The other Original Equipment Manufacturers against whom complaints have been received include Benling India Energy and Technology; Okaya EV; Jitendra New EV Tech; Greaves …

Civil Aviation Min Notifies Operational Guidelines for Drone PLI Scheme
2 years ago

Civil Aviation Min Notifies Operational Guidelines for Drone PLI Scheme

News 18  

The civil aviation ministry has notified the operational guidelines for the Production Linked Incentive scheme for drones and drone components. The total PLI per manufacturer is capped at Rs 30 crore which is 25 per cent of the total financial outlay of Rs 120 crore. Indian MSMEs and startups manufacturing drones and having annual sales turnover of Rs 2 crore …

Government approves 42 companies for telecom products under PLI scheme; details here
2 years, 1 month ago

Government approves 42 companies for telecom products under PLI scheme; details here

Firstpost  

According to the Ministry of Communication, the investment is likely to generate additional sales of Rs 2.45 trillion. The Ministry of Communication has granted approval to 42 companies including Nokia, Samsung, Flextronics, Ericsson’s partner Jabil, Tejas Networks, HFCL, and VVDN, under the production linked incentive scheme for telecom and networking products. The Union Budget had announced a design-led PLI scheme …

Production-linked incentives | Dole or incentive?
2 years, 1 month ago

Production-linked incentives | Dole or incentive?

India Today  

For over a decade, the share of manufacturing in India’s GDP has remained in the 15-17 per cent range, with various measures by the present and past governments barely helping the needle move. Targeting 14 key sectors, the scheme, with an outlay of Rs 1.97 lakh crore, aimed to create national manufacturing champions, 6 million new jobs and additional production …

No GOI proposal for EV unit in Andhra Pradesh
2 years, 5 months ago

No GOI proposal for EV unit in Andhra Pradesh

Deccan Chronicle  

Adala Prabhakar Reddy, MP, Nellore, and Dr. Beesetti Venkata Satyavathi, MP, Anakapalle Q: Whether the government has set up new electric vehicle manufacturing units under National e-Mobility Programme during last two years in Andhra Pradesh; the total number of hybrid and electric vehicle manufacturing units that have been set up across the country under the programme. A: The government does …

PLI scheme has potential to add 4% to India’s GDP annually, here’s why
2 years, 5 months ago

PLI scheme has potential to add 4% to India’s GDP annually, here’s why

Live Mint  

The production-linked incentives scheme which is expected to boost the manufacturing sector has the potential to 4% to GDP per annum in terms of incremental revenues. The scheme which is aimed to offering nearly ₹2.4 lakh crore incentives in key business areas over the next five years, has seen maximum response from the electronics, auto components, and pharma sectors, according …

Govt Clears Proposals Worth Rs 86,824 Crore for Electronics Manufacturing In India
2 years, 5 months ago

Govt Clears Proposals Worth Rs 86,824 Crore for Electronics Manufacturing In India

News 18  

New Delhi, Jun 27: The electronics and IT ministry has approved a total of 314 applications with proposed investments of Rs 86,824 crore under a modified special incentive package scheme till May 31, 2022, an official note said. The proposals that were approved in May included an investment of Rs 596 crore from Bosch Automotive Electronics Private Limited, the official …

Are Electric Vehicles India’s Future?
2 years, 8 months ago

Are Electric Vehicles India’s Future?

The Hindu  

By 2030, 80% of two and three-wheelers, 40% of buses, and 30 to 70% of cars in India will be electric vehicles, says the NITI Aayog. As the nation gears towards its ‘Zero-emission’ 2070 dream, funds and focus are directed towards electric mobility In March 2022, Minister for Road Transport and Highways, Nitin Gadkari mentioned in the Parliament that between …

Delhi Government Launches Portal for Purchasing, Registering Electric Autos
2 years, 9 months ago

Delhi Government Launches Portal for Purchasing, Registering Electric Autos

News 18  

The Delhi government on Saturday launched an online portal ‘My EV’ for the purchase and registration of electric autos in the city. The government will also provide five per cent interest subvention on the purchase of e-autos on loans under the Delhi Electric Vehicle Policy, an official statement said, adding Delhi has now become the first state to provide such …

Names of Companies Shortlisted For Auto Component PLI Scheme to Be Out Soon
2 years, 9 months ago

Names of Companies Shortlisted For Auto Component PLI Scheme to Be Out Soon

News 18  

The Centre will soon announce the names of the companies shortlisted for benefits under the production linked incentive scheme for the automobile and auto component sector, said sources. COMPONENT CHAMPION INCENTIVE SCHEME In December 2021, the Centre launched the PLI scheme for automobile and auto component industries, with a budgetary outlay of Rs 25,938 crore over five years to improve …

Tesla Did Not Apply For PLI Scheme Amid Import Duty Tussle, Indian Govt Reveals
2 years, 10 months ago

Tesla Did Not Apply For PLI Scheme Amid Import Duty Tussle, Indian Govt Reveals

News 18  

Amid the tussle between the US-based EV maker, Tesla, and the government of India regarding cuts in import duty, another development that has inched away the hopes of Indian car buffs to drive a Tesla. The PLI scheme for the auto sector focused on promoting the research, development, and production of advanced automotive technology products such as electric vehicles and …

PLI Scheme: 20 Vehicle Companies Receive Approval Under 'Champion OEM Incentive' in India
2 years, 10 months ago

PLI Scheme: 20 Vehicle Companies Receive Approval Under 'Champion OEM Incentive' in India

News 18  

20 applicants have been approved under the “Champion OEM Incentive Scheme” of the Production Linked Incentive Scheme for the Automobile and Auto Component Industry in India. The Government approved the Production Linked Incentive Scheme for Automobile and Auto Component Industry in India for Enhancing India’s Manufacturing Capabilities for Advanced Automotive Products with a budgetary outlay of ₹25,938 crore. Here’s the …

Explained | The DLI scheme and the chip making industry in India
2 years, 10 months ago

Explained | The DLI scheme and the chip making industry in India

The Hindu  

The story so far: India has invited applications from 100 domestic companies, startups and small and medium enterprises to become a part of the design-linked incentive scheme. The DLI scheme aims to provide financial and infrastructural support to companies setting up fabs or semiconductor making plants in India. The inception of new companies will help in meeting the demand and …

PLI scheme: Auto component companies hope to pare imports
3 years, 2 months ago

PLI scheme: Auto component companies hope to pare imports

Business Standard  

PLI scheme: Auto component companies hope to pare imports It would also reduce imp­orts from countries like China, Taiwan and South Korea and facilitate foreign collaborators to set up manufacturing footprint in India Premium India imported parts worth $13.8 billion in FY21 while it exported $13.3 billion worth of parts in the same year, according to Automotive Component Manufacturers Association. …

Heavy Industries Ministry notifies PLI scheme for auto sector
3 years, 2 months ago

Heavy Industries Ministry notifies PLI scheme for auto sector

The Hindu  

The Heavy Industries Ministry on September 23 notified the ₹25,938 crore production-linked incentive scheme for the auto sector, which is aimed at boosting domestic manufacturing of advanced automotive technology products and attracting investments in the manufacturing value chain. It also said the list of advanced automotive technology vehicles like Battery Electric Vehicles, Hydrogen Fuel Cell Vehicles etc will be prescribed …

Explained | Will the production-linked incentive scheme for auto sector help the electric vehicle segment?
3 years, 3 months ago

Explained | Will the production-linked incentive scheme for auto sector help the electric vehicle segment?

The Hindu  

The story so far: The Centre on Wednesday approved a production-linked incentive scheme for the automobile and drone industries with a budgetary outlay of ₹26,058 crore. The incentive scheme for the auto sector aims to blunt the impact of costs involved when investing in technologies that could power vehicles in future. After peaking at annual sales of 3.3 million passenger …

Cabinet clears PLI for auto sector to spur ‘green’, high-tech
3 years, 3 months ago

Cabinet clears PLI for auto sector to spur ‘green’, high-tech

The Hindu  

The Union Cabinet on Wednesday approved a ₹26,058 crore production-linked incentive scheme to accelerate domestic manufacturing of high value advanced automotive technology vehicles as well as components and drones. “The revised focus of PLI scheme on alternative fuels, electric vehicles and utilisation of advanced technological innovation, will help the industry move faster towards the future technologies,” said TVS Motor Co. …

Auto PLI Scheme Approved With Focus on Alternate Fuel and Advanced Tech: Know it All
3 years, 3 months ago

Auto PLI Scheme Approved With Focus on Alternate Fuel and Advanced Tech: Know it All

News 18  

Government of India has approved the production-linked incentive scheme for the automobile sector. While the initial outlay approved for the PLI scheme for vehicles and components makers was Rs 57,000 crore, govt has only approved Rs 26,058 crore only incentivizing auto makers of electric and hydrogen fuel cell vehicles. The Production Linked Incentive Scheme promoting production of alternate fuel vehicles …

Cabinet approves ₹26,058 crore PLI scheme for auto, drone sectors
3 years, 3 months ago

Cabinet approves ₹26,058 crore PLI scheme for auto, drone sectors

The Hindu  

The Union Cabinet on Wednesday approved a Rs. 26,058 crore production linked incentive scheme for auto, auto-components and drone industries to enhance India’s manufacturing capabilities, Union Minister Anurag Thakur said on Wednesday. The Champion OEM Incentive scheme is a ‘sales value linked’ scheme, applicable on Battery Electric Vehicles and Hydrogen Fuel Cell Vehicles of all segments, the minister said. The …

Modi govt's big boost for auto sector: Rs 26,000 crore PLI scheme approved; to create 7.5 lakh jobs
3 years, 3 months ago

Modi govt's big boost for auto sector: Rs 26,000 crore PLI scheme approved; to create 7.5 lakh jobs

India TV News  

The Union Cabinet on Wednesday approved a Rs 26,058 crore production linked incentive scheme for auto, auto-components and drone industries to enhance India's manufacturing capabilities. It is estimated that over a period of five years, the PLI scheme for the automobile and auto components industry will lead to fresh investment of over Rs 42,500 crore, incremental production of over Rs …

Cabinet may approve revised PLI scheme for auto sector today
3 years, 3 months ago

Cabinet may approve revised PLI scheme for auto sector today

India TV News  

The Union Cabinet is likely to approve on Wednesday the revised production-linked incentive scheme for the automobile sector, which aims at promoting domestic manufacturing and create jobs, according to sources. Last year, the government had announced the scheme for the automobile and auto components sector with an outlay of Rs 57,043 crore, earmarked for five years. Component segments that are …

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