Auto Sector Revs Up: PLI Scheme Injects ₹25,219 Crore, Creates 38,186 Jobs

The Production Linked Incentive (PLI) Scheme for Auto and Auto Component is catalyzing remarkable growth in India's auto industry. Recent government figures indicate investments worth ₹25,219 crore and the generation of 38,186 employment opportunities under the scheme. With an overall budgetary expenditure of ₹25,938 crore in five years (FY2022-23 to FY2026-27), the scheme focuses on enhancing manufacturing of Advanced Automotive Technology products. The program has drawn 85 approved applicants, prioritizing zero-emission vehicles such as battery electric and hydrogen fuel cell vehicles. During FY24, which was the first performance year, the government paid out ₹322 crore in incentives. This strategic initiative is likely to make India more competitive in the international automotive sector and advance deep localization of AAT products.

 

Source: Press Information Bureau (PIB), Government of India