Govt approves Rs 26,058 cr PLI scheme for auto, drone sectors

The Union Cabinet on Wednesday approved a Rs 26,058 crore production linked incentive (PLI) scheme for auto, auto-components, and drone industry to enhance India's manufacturing capabilities, Union Minister Anurag Thakur said on Wednesday.

The PLI scheme will incentivize the emergence of advanced automotive technologies' global supply chain in India.

It would help create additional employment for over 7.6 lakh people.

Incentives worth Rs 26,058 crore will be provided to industry over five years, the minister told reporters after the Cabinet meeting.

The PLI scheme will bring fresh investments of over Rs 42,500 crore in five years and incremental production of over Rs 2.3 lakh crore, he said.