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telegraphindia.com 15 Sep, 2021 01:15 am

Govt likely to come out with PLI scheme for auto sector

Govt likely to come out with PLI scheme for auto sector
The move, analysts said, will be a signal to Tesla to first start manufacturing its iconic electric vehicles in India before any tax concessions can be considered

/ / Govt to come out with PLI scheme for auto sector with focus on EVs Govt to come out with PLI scheme for auto sector with focus on EVs The move, analysts said, will be a signal to Tesla to first start manufacturing its iconic electric vehicles in India before any tax concessions can be considered Representational image.However, officials indicated that the government is believed to have slashed by half the outlay for this PLI scheme to about Rs 26,000 crore.While announcing the broad sectors to be covered under the PLI scheme, the government last year had announced the scheme for the automobile and auto components sector with an outlay of Rs 57,043 crore, earmarked for five years.Last week, the Cabinet cleared Rs 10,683-crore PLI scheme for the man-made fibre and technical textiles sector.

Society For Auto Manufacturers’ Association (SIAM) Electric Vehicles Tesla Production Linked Incentive (PLI) Scheme Advertisement Advertisement Advertisement Copyright © 2020 The Telegraph.21, 03:48 AM The government is likely to come out with a production linked incentive scheme for the auto sector on Wednesday which would focus on promoting manufacturing and export of electric vehicles (EVs) and cars running on hydrogen-fuel cells as well as auto parts requiring advanced production technologies.

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