Government approves ₹26,058 crore PLI scheme for auto and drone industries
- The government has approved the ₹26,058 crore PLI scheme for the auto and drone industries.
- This scheme is aimed to help boost the incentivising the production of automobiles, auto components and drones in the country.
- It will be divided between the auto sector and the
drone industryout of which the former will get ₹25,938 crore and the latter will get ₹120 crore.
AdvertisementIndia’s Union Cabinet on Wednesday approved the
Union Minister Anurag Thakur announced the approval of the PLI scheme saying that it has seen success in the past and could prove beneficial for different sectors. Thakur added that this scheme will help boost the production of advanced automobiles, auto components and drones in the country, and also help create “champion industries” in these sectors, Mint reported.
The ₹26,058 crore will be divided between the auto sector and the drone industry out of which the former will get ₹25,938 crore and the latter will get ₹120 crore.
The amount allocated for the drone industry will span over three years. This is almost double the combined turnover of all domestic drone manufacturers in the financial year 2020-21, as per data from an earlier press note from the ministry of aviation. It covers a wide variety of drone components including airframe, propulsion systems, power systems and batteries.
Take a look at top 15 highlights of PLI scheme for drones and drone components. #PLIforDrones https://t.co/ZAsvUcIG83— MoCA_GoI (@MoCA_GoI) 1631701766000
In the auto sector, the focus will be on hydrogen fuel vehicles and electric vehicles. The auto components covered under this scheme include electronic power steering system, automatic transmission assembly, sensors, sunroofs, supercapacitors, adaptive front lighting, tyre pressure monitoring system, automatic braking, tyre pressure monitoring system, and collision warning system.
The PLI scheme is expected to bring around ₹47,500 crore additional investments to these sectors, and create around 760,000 new jobs in the auto sector. It will be effective from the financial year 2023 for a period of five years.
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