SIAM thanks Government for launching the PLI Scheme for Indian Auto Industry
Society of Indian Automobile Manufacturers (SIAM) thanks the Government for launching the much awaited Production Linked Incentive (PLI) Scheme for the Indian Auto Industry covering vehicle and component manufacturers.
Rs. 25,938 Cr allocated for the auto industry is the highest of all PLIs announced by the Government so far.
The scheme shows Government's commitment to support Indian Auto Industry by incentivising Battery Electric and Hydrogen Vehicles and a selected list of auto components.
It reinforces Government's focus on encouraging local investments and manufacturing, thereby building an Atmanirbhar Bharat.
Thanking the Government, SIAM President, Mr Kenichi Ayukawa said, "SIAM is grateful to the Hon'ble Prime Minister, Hon'ble Minister of Heavy Industries, Secretary Heavy Industries, and all other policy makers in the Government involved in launching the PLI Scheme for the auto industry. The scheme will contribute towards reducing carbon emissions and oil imports with local manufacturing. SIAM will be happy to engage with the Ministry of Heavy Industries for detailing and fine-tuning, execution and further strengthening the scheme."
DISCLAIMER: This information is published as per the press release sent to us. It has not been verified or ratified by OVERDRIVE.
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