Year Ender 2023: Many highs were logged by Ministry of Heavy Industries
Here is the overview of key initiatives of Ministry of Heavy Industries during the year 2023:
Source: thestatesman.com
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Maruti, Motherson Sumi, Hero among 95 auto firms approved under PLI scheme
"The PLI Scheme for Automobile and Auto Component Industry in India has been successful in attracting proposed investment of Rs 74,850 crore against the target estimate of investment Rs 42,500 crore over a period of five years," government said in a statement.
Source: businesstoday.in
![Maruti, Hero, Toyota & more; auto majors approved for auto component PLI scheme [full list] - Vimarsana News](https://data1.ibtimes.co.in/en/full/761412/auto.jpg)
Maruti, Hero, Toyota & more; auto majors approved for auto component PLI scheme [full list]
The Production Linked Incentive Scheme, or PLI Scheme, is a government of India effort that aims to encourage not only foreign corporations to locate workers in India and so create jobs, but also domestic and local production to create micro-jobs.
Source: ibtimes.co.in
PLI for auto, drones cleared
The scheme to incentivise advanced automotive technologies for five years will lead to fresh investment of over Rs 42,500 crore
Source: deccanchronicle.com