Automobile Industry Current Affairs, GK & News
Union Government notified regarding the Production Linked Incentive (PLI) Scheme for Automobile & Auto components on September 23, 2021. Highlights Earlier government had approved the PLI Scheme for Automobile and Auto Component Industry on September 15, 2021. The PLI Scheme for the auto sector seeks to overcome the cost disabilities of the industry for manufacturing ..
Topics: Automobile Industry • Automobile Sector • Champion OEM Incentive Scheme • Component Champion Incentive Scheme • PLI scheme for Automobile • Production Linked Incentive (PLI) • production linked incentive scheme
Union Cabinet has approved a Rs. 26058 crore production linked incentive (PLI) scheme on September 15, 2021, for auto, auto-components and drone industries in order to enhance India’s manufacturing capabilities. Highlights PLI scheme will help in incentivising the emergence of global supply chain of advanced automotive technologies in India. Incentives of Rs. 26,058 crores will ..
Category: Economy & Banking Current Affairs
On November 11, 2020, the Union Cabinet chaired by PM Narendra Modi approved Production Linked Incentive Scheme for ten sectors. The schemes are worth of Rs 1.46 lakh crores. The GoI had earlier announced the scheme for pharmaceuticals and electronic products alone. Now, upon being extended the scheme is to return several benefits. Key Highlights ..
Category: Government Schemes Current Affairs
As per the data released by the Society of Indian Automobile Manufacturers (SIAM), the sales of domestic passenger vehicles has fallen down by 30.9% in the month of July. This is the 9th straight decline in monthly sales. The domestic production of all passenger vehicles has also fallen by nearly 17% in the same month. ..
The Indian auto industry, which is one of the world’s largest (4th largest) with annual sales increasing 9.5% year-on-year to 4.02 million units (excluding two-wheelers) in the year 2017. It also was the 7th largest manufacturer of commercial vehicles in 2018. Current Situation The Two Wheelers segment dominates the Indian market segment in terms of ..