Business News | Govt to Review Production-linked Incentive for Automotive Sector on Tuesday

New Delhi [India], August 28 (ANI): The Ministry of Heavy Industries will organise a conference to review production-linked incentives (PLI) for the automobile sector (PLI-Auto Scheme) here on Tuesday.

The conference, to be chaired by Union minister Mahendra Nath Pandey, aims to bring together stakeholders and review the performance, share knowledge and experiences, and address concerns and challenges.

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In a release, the government on Monday said the review meeting shall have a special focus on understanding the opportunities available through this PLI scheme.

In the automotive sector, the ministry has a PLI outlay of Rs 25,938 crore for 2022-23 to 2026-27.

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“The cascading effect of these schemes will lead to the growth of automotive industry and it is poised that the Indian automotive industry will rank number three in the world by 2030,” the ministry said.

As part of its ‘Atmanirbhar’ and Make in India plan, the government launched Production Linked Incentive (PLI) schemes in varied sectors to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports. (ANI).

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