Union minister Anurag Thakur on Wednesday announced that the Cabinet has approved the production linked incentive scheme for auto, auto-component, and drone industries, saying it will “enhance India’s manufacturing capabilities.” Thakur told a briefing that ₹25,938 crores will be allotted to the auto sector and ₹120 crores to the drone industry under the budgetary provision for the PLI scheme.
“The automobile industry contributes to 35% of the manufacturing GDP of the country. It is a leading sector in generating employment. If we speak of the global automotive trade, then we need to increase India’s participation,” the Union minister said.
Thakur added that the PLI scheme has been brought “keeping in mind the needs of the present as well as the future, and for local markets too.”
