For the automobile and drone industry, a total of Rs. 26,058 crore PLI scheme approved

- Decision taken at the meeting of the Central Cabinet

- With this decision of the government, Rs. 42,500 new investments will come and 7.5 lakh new jobs will be created

New Delhi: The Union Cabinet today approved Rs. The Rs 2,08 crore Production Linked Incentive (PLI) scheme has been approved. The decision was taken to boost the country's manufacturing capacity, Union Minister Anurag Thakur said in a statement.

After a cabinet meeting chaired by Prime Minister Narendra Modi, the minister told reporters that incentives worth Rs 3,08 crore would be given to the industry in the next five years.

Thakur further said that the PLI scheme would bring in new investments of Rs 2,500 crore over the next five years and create 2.5 lakh new jobs.

It may be mentioned that the PLI scheme announced for the automobile and drone industry is part of the PLI scheme for 12 sectors introduced in the 2021-2 budget. At that time, a total PLI scheme of Rs 1.5 lakh crore was announced for 12 sectors.

Union Minister Anurag Thakur, while briefing the cabinet on the decisions, said that Rs 150 crore has been sanctioned under the PLI for the drone sector as well.

He said that with the help of PLI, India could become a manufacturing hub for auto in the world. This benefit will be available only to companies that comply with revenue and investment conditions. Car makers will have to invest at least Rs 2,000 crore over the next five years.

According to experts, the government's decision will benefit Tesla, the American company that makes electric cars. With the promotion of PLI scheme, Tesla can start production of its famous electric car in India.