Nod for Rs 25,938 cr PLI scheme for automotive industry

The Union Cabinet on Wednesday approved a revised Rs 25,938 crore production linked incentive (PLI) scheme for auto and auto-components industries to enhance the domestic manufacturing capabilities.

Last year, the government had announced a scheme for the automobile and auto components sector with an outlay of Rs 57,043 crore, earmarked for five years. Briefing the media about the decision, Union Minister Anurag Thakur said that the scheme for the automobile industry will lead to a fresh investment of over Rs 42,500 crore.