Government of India
With a budgetary allocation of Rs 25,938 crore, the government has authorised the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Components Industry in India for Enhancing India’s Manufacturing Capabilities for Advanced Automotive Products. The PLI Scheme for Automobiles and Auto Components proposes financial incentives to stimulate local manufacturing of Advanced Automotive Technology goods and attract investments in the automotive manufacturing value chain. Its main goals are to overcome cost barriers, achieve economies of scale, and develop a strong supply chain in the field of Advanced Automotive Technology products.
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Note: The above-mentioned project news is taken from ProjectX India | 15th January 2022 edition. Click here to buy this issue.