The Union Cabinet is likely to approve the revised production-linked incentive (PLI) scheme for the auto sector, which aims at boosting local manufacturing and create jobs. Last year, the administration had declared the scheme for the automobile and auto components sector of Rs 57,043 crore.
Component areas to be covered under the scheme include automatic transmission assembly, electronic power steering system, sensors, supercapacitors, sunroofs, adaptive front lighting, automatic braking, tyre pressure monitoring system, and collision warning system.
The scheme is part of the production-linked incentives declared in the Union Budget 2021-22 with a cost of Rs 1.97 lakh crore. The PLI scheme will help bring balance in critical sectors and create and nurture global champions.