New Delhi, (PTI): The Union Cabinet on Wednesday approved a Rs 26,058 crore production linked incentive (PLI) scheme for auto, auto-components and drone industries to enhance India's manufacturing capabilities, Union Minister Anurag Thakur said on Wednesday.
The PLI scheme will incentivize the emergence of advanced automotive technologies' global supply chain in India.
Incentives worth Rs 26,058 crore will be provided to industry over five years, the minister told reporters after the Cabinet meeting.
It is estimated that over a period of five years, the PLI scheme for the automobile and auto components industry will lead to fresh investment of over Rs 42,500 crore, incremental production of over Rs 2.3 lakh crore and will create additional employment opportunities of over 7.5 lakh jobs, Thakur said.
The PLI scheme for automobile and drone industries is part of the overall announcement of PLI schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore.
The scheme for the auto sector envisages overcoming the cost disabilities to the industry for the manufacture of advanced automotive technology products in India.
The incentive structure will encourage industry to make fresh investments for the indigenous global supply chain of Advanced Automotive Technology products, Thakur said.
The scheme for the auto sector is open to existing automotive companies as well as new investors who are currently not in automobile or auto component manufacturing business.
The scheme has two components - Champion OEM Incentive Scheme and Component Champion Incentive Scheme.
The Champion OEM Incentive scheme is a sales value linked' scheme, applicable on Battery Electric Vehicles and Hydrogen Fuel Cell Vehicles of all segments, the minister said.
The Component Champion Incentive scheme is a sales value linked' scheme, applicable on Advanced Automotive Technology components of vehicles, Completely Knocked Down (CKD)/ Semi Knocked Down (SKD) kits, vehicle aggregates of 2-Wheelers, 3-Wheelers, passenger vehicles, commercial vehicles and tractors.
This PLI scheme for automotive sector along with the already launched PLI scheme for Advanced Chemistry Cell (Rs 18,100 crore) and Faster Adaption of Manufacturing of Electric Vehicles (Rs 10,000 crore) will enable India to leapfrog from traditional fossil fuel-based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system.
Further the PLI scheme for the drones and drone components industry addresses the strategic, tactical and operational uses of this revolutionary technology.
A product-specific PLI scheme for drones with clear revenue targets and a focus on domestic value addition is key to building capacity and making these key drivers of India's growth strategy.
The scheme will over a period of three years, lead to investments worth Rs 5,000 crore, an increase in eligible sales of Rs 1500 crore and create additional employment of about 10,000 jobs.
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New Delhi, Mar 28: In a major breakthrough, the National Investigation Agency (NIA) has arrested a key conspirator in Bengaluru's Rameshwaram Cafe blast case, according to an official statement issued on Thursday.
Muzammil Shareef was picked up on Wednesday and placed in custody as a co-conspirator after NIA teams cracked down at 18 locations, including 12 in Karnataka, five in Tamil Nadu and one in Uttar Pradesh, it said.
The NIA, which took over the case on March 3, had earlier identified the main accused, Mussavir Shazeeb Hussain, who had carried out the blast.
It had also identified another conspirator, Abdul Matheen Taha, who is also wanted by the agency in other cases, the statement said.
"Both the men are on the run," it added.
NIA investigations have revealed that Muzammil Shareef had extended logistic support to the other two identified accused in the case, involving an IED explosion at the cafe located at ITPL Road, Brookefield, Bengaluru, on March 1.
Several customers and hotel staff members were injured, some of them grievously, in the blast, which caused extensive damage to the property.
"Raids were conducted today at the houses of all these three accused as well as the residential premises and shops of other suspects," the statement said.
Various digital devices were seized during the searches, along with cash, it added.
Efforts are on to nab the absconding accused and unearth the larger conspiracy behind the blast, the NIA said.
NIA Arrests 1 in Rameshwaram Cafe Blast Conspiracy After Massive Multi-State Raids pic.twitter.com/QI4ZpvBpQV
— NIA India (@NIA_India) March 28, 2024