Indian government to launch PLI scheme soon, plans to allocate USD7.7 billion to auto sector

The Indian government has also set an ambitious target for country’s auto component industry to double its annual exports from current USD30billion over the next five years

The Indian government, which has been pushing for increased localization of automotive parts and reduced import dependency for the industry, is in the final stages of announcing a big-ticket production-linked incentive or PLI scheme, The Economic Times reported on 27 August, citing a cabinet minister.