PLI for Automotive industry
In order to boost domestic manufacturing and cut down on import bills, the central government in March 2020 introduced a scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units. Apart from inviting foreign companies to set shop in India, the scheme also aims to encourage local companies to set up or expand existing manufacturing units. The PLI schemes will have a huge role to play in achieving size and scale in manufacturing, as these schemes incentivize incremental production The total budgetary outlay for these schemes is Rs 1 96 lakh crores or 26