The incentive is a part of the overall announcement of PLI schemes for 13 sectors made earlier during Budget 2021, with an outlay of Rs 1.97 lakh crore, Anurag Thakur said.
In a message to India's auto industry body, PM Modi also said steps are being taken for value chain associated with auto manufacturing so that the industry becomes more productive.
India's emissions curbs, due to take effect next year, are critical for its push to tackle some of the world’s worst air pollution, which costs the country 8.5% of its GDP.
The Hongguang Mini is the brainchild of SAIC-GM-Wuling Automobile Co., a joint venture between two Chinese state-backed automakers, and American automotive giant General Motors Co.
Putting cleaner vehicles on the roads is key to tackling air pollution problems. According to World Bank calculations, the toxic air costs India as much as 8.5% of its GDP.
Tractor sales in India recorded a 28% y-o-y growth this year, from April to November. Experts attribute the trend to better monsoon, finance availability and lesser expenditure on weddings.
The incentives, spread over 5 years, will be provided to sectors like auto, automobile components, textile products, white goods like LED screens, processed food products, among others.
Chennai’s automotive corridor slowly finds its feet after nearly 2 months of lockdown. Hyundai and many other manufacturing units resumed operations on 8 May.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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