The Union Cupboard on Wednesday authorised a Rs 26,058 crore manufacturing linked incentive (PLI) scheme for auto, auto-components and drone trade to boost India’s manufacturing capabilities, Union Minister Anurag Thakur mentioned on Wednesday.
The PLI scheme will incentivize the emergence of superior automotive applied sciences’ international provide chain in India.
It might assist create further employment of over 7.6 lakh folks.
Incentives price Rs 26,058 crore might be supplied to trade over 5 years, the minister mentioned, including that Rs 120 crore to be allotted for drone PLI scheme
The PLI scheme will deliver contemporary investments of over Rs 42,500 crore in 5 years and incremental manufacturing of over Rs 2.3 lakh crore, he mentioned.
He mentioned the champion auto corporations must make investments of Rs 2,000 crore of latest investments over 5 years, whereas 2-wheelers & 3-wheelers should make investments of Rs 1,000 crore. The part makers must make investments of Rs 500 crore over 5 years beneath the PLI scheme, added Thakur.
Govt anticipate Rs 5,000 crore of investments in Indian drone trade. Count on tier-one corporations to qualify for auto PLI scheme. New non-automotive traders with internet price of Rs 1,000 crore will qualify for the scheme, Thakur additional mentioned.
Vehicle trade contributes to 35% of the manufacturing GDP of the nation. It’s a main sector in producing employment. If we converse of the worldwide automotive commerce, then we have to enhance India’s participation: Union Minister Anurag Thakur pic.twitter.com/x63TGqRvkt
— ANI (@ANI) September 15, 2021
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