Govt receives investment proposals worth ₹75,000 crore under auto PLI scheme

The government has received investment proposals worth around ₹75,000 crore under the auto PLI scheme of which close to ₹18,000 crore has already been invested, Union Heavy Industries Minister H D Kumaraswamy said on Tuesday. Speaking at the 64th Annual SIAM convention here, the minister said the scheme has helped create around 30,000 jobs in the country.

"Since its launch, the scheme (Auto PLI) has been instrumental in attracting ₹74,850 crore in proposed investments. Of this ₹17,896 crore has been actually invested by March 2024," Kumaraswamy said.

He noted that in order to ensure continuous growth in electric mobility, the ministry is now focusing on charging infrastructure.

"While developing the charging infrastructure, we are conscious that integrating this infrastructure with renewable energy sources is essential for maximising the environmental benefits of electric mobility," the minister said.

He noted that the government and the industry need to make dedicated efforts to help India achieve its sustainability goals while maintaining the desired growth path.

"I can assure all of you that the government will continue to take initiatives to make the business ecosystem more industry-friendly," he added.

Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.