India, March 27 -- Union Cabinet approved PLI Scheme for Automobile & Auto Components on 15.09.2021 with budgetary outlay of ?25,938 crore. PLI-Auto Scheme envisages to overcome the cost disabilities to the industry for manufacturing and boost domestic manufacturing of Advanced Automotive Technology (AAT) products in India. The incentive structure is to encourage industry to make fresh investments for indigenous manufacturing of AAT products and create additional jobs. PLI scheme for the auto sector is being implemented as per the approved guidelines.
The PLI Auto scheme has been responsive to the dynamic needs of the industry. MHI had notified the categories of 19 AAT vehicles & 103 AAT components that shall be covered under the scheme on...