The Centre today said Productivity Link Incentives (PLI) scheme has been launched to attain the self-reliance in domestic automobile sector. Replying to a question in the Lok Sabha, Minister of State for Heavy Industries Krishan Pal said the PLI scheme has been launched on the line of dream of Atmanirbhar Bharat and it will brought innovative technology and investment in the country.
He said PLI will trigger investment in domestic automobile sector and reduce import of spare parts, innovative technology making cheaper vehicle available in the country.
The minister informed the House that with1500 Billion dollar global market of automobile the stake of India is less than two percent. He said the scheme will bolster the sector and it is expected that share of Indian automobile segment reach four to eight percent of the global market in coming days.