PLI scheme for automotive sector

The Production Linked Incentive (PLI) scheme for automotive sector was approved by the Union Cabinet to boost the domestic manufacturing capacities required for creating supply chain for the emerging automotive technologies. It aims to promote India’s overall automobile sector, including electric vehicles and auto components.
The scheme is expected bring investments worth Rs.42,500 crore to the automobile sector and create 7.6 lakh jobs. The scheme will provide incentives of Rs.25,938 crore for the automobile and auto component manufacturers. It is expected to increase India’s share of global automotive trade from the current 2 per cent. It will also decrease India’s annual automobile component imports, which are worth 17 billion USD.

Comments

Leave a Reply