‘PLI for auto aims to ramp up new technologies in the sector’
The newly-introduced production-linked incentive (PLI) scheme for the automobile sector is aimed at augmenting India’s capabilities in new technologies. The project, worth Rs 26,000 crore of government incentives, will help grow India’s share in advanced automotive technologies and bring it closer to global standards, said Arun Goel, secretary, Ministry of Heavy Industries.
Under the scheme, projects that focus on newer segments, such as electric and hydrogen fuel cell vehicles, will be incentivised. Existing technologies in the internal combustion engine (ICE) space will be kept out of the purview of the new PLI.
“Since ICE is an old technology, there is no need to incentivise. What we are not manufacturing today – electric and hydrogen fuel cell vehicles – but will be there in future, need to be incentivised,” said Goel.
