ANI
15 Sep 2021, 16:48 GMT+10
New Delhi [India], September 15 (ANI): To enhance India's manufacturing capabilities, Union Cabinet on Wednesday approved the production linked incentive (PLI) schemes for the auto, auto-component, and drone industries.
Briefing media about the Cabinet decision, Union Minister Anurag Thakur said the PLI scheme has a budgetary provision of Rs 26,058 crores - Rs 25,938 crores for the auto sector and Rs 120 crores for the drone industry.
"Automobile industry contributes to 35 per cent of the manufacturing GDP of the country. It is a leading sector in generating employment. If we speak of the global automotive trade, then we need to increase India's participation," said Thakur.
Thakur said the PLI scheme has been brought keeping in mind the "needs of the present as well as the future, and for local markets too, so that we strengthen our industry." (ANI)Get a daily dose of Florida Statesman news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Florida Statesman.
More InformationIn the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...