Friday, Mar 29 2024 | Time 17:33 Hrs(IST)
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Business Economy


Arun Goel launches PLI for auto sector, Drone industry

Chennai, Sep 20m (UNI) Mr Arun Goel, Secretary, Union Ministry of Heavy Industries,
on Monday launched the Production Linked Incentive (PLI) Scheme for the auto and
the drone industry.
Speaking on the occasion, he said Government has approved the PLI scheme for auto
and Drone industry to enhance India’s manufacturing capabilities.
Stating that the PLI Auto Scheme will incentivize emergence of Advanced Automotive
Technologies global supply chain in India, he said it would also help Help create
additional employment of over 7.6 lakh people.
He said incentives worth Rs 26,058 crore will be provided to industry over five years.
as the PLI Scheme for auto sector will bring fresh investments of over Rs 42,500 crore
in five years and incremental production of over Rs 2.3 lakh crore.
The PLI Scheme for auto sector is open to existing automotive companies as well as new
investors, who are currently not in automobile or auto component manufacturing business.
The scheme has two components, viz., Champion OEM Incentive Scheme and Component Champion Incentive Scheme.
The Champion OEM Incentive scheme is a ‘sales value linked’ scheme, applicable on Battery
Electric Vehicles and Hydrogen Fuel Cell Vehicles of all segments.
The Component Champion Incentive scheme is a ‘sales value linked’ scheme, applicable on
Advanced Automotive Technology components of vehicles, Completely Knocked Down (CKD)
/Semi Knocked Down (SKD) kits, Vehicle aggregates of 2-Wheelers, 3-Wheelers, passenger vehicles, commercial vehicles and tractors etc, Mr Goel said.
He said the PLI Scheme for automotive sector along with already launched PLI for Advanced
Chemistry Cell (Rs 18,100 crore) and Faster Adaption of Manufacturing of Electric Vehicles
(FAME) Scheme (Rs 10,000 crore) will give a big boost to manufacture of Electric Vehicles,
apart from enabling India to leapfrog to environmentally cleaner, Electric Vehicles and Hydrogen
Fuel Cell Vehicles.
Mr Goel said the PLI Scheme for the Drones and Drone components industry addresses the
strategic, tactical and operational uses of this revolutionary technology.
"A product specific PLI scheme for drones with clear revenue targets and focus on domestic
value addition is key to building capacity and making these key drivers of India’s growth
strategy", he added.
The PLI for Drones and Drone components industry, will over a period of three years, lead
to investments worth Rs 5,000 Crore, incremental production of over Rs 1,500 crore and
create additional employment of about 10,000 jobs.
UNI GV 1622
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