Amitabh Kant – CEO, NITI Aayog:
The PLI Scheme for automobile sector & Drones approved by Govt has an outlay of Rs 26,508 Cr. It will act as a catalyst in areas of advanced automotive segments, help the sector to keep pace with global technological transformation and participate in global supply chains.
India is world’s largest 2W, 3W & tractor manufacturer & world’s 2nd largest bus manufacturer, 3rd largest heavy truck manufacturer & 4th largest car manufacturer.
The sector accounts for 7.1% of India’s GDP currently & 49% of manufacturing sector.
Today’s PLI will give it greater impetus.