Govt. to offer incentives worth ₹26k crores under new PLI scheme for auto sector

• On Wednesday, the Government of India announced the PLI schemes for the auto and drone sector.

• Under the new PLI schemes, the Government will be offering incentives worth ₹26,058 crores auto sector, auto components, and drone sector. To avail benefits of the policy, the existing auto sector players will have to make new investments of ₹1000 crores over the next five years whereas new players will have to invest over ₹2000 crores.

• New players in the auto component sector will have to invest ₹500 crores while existing players will have to invest ₹250 crores.