PLI scheme for auto sector extended to FY28

04 Sep 2023 CW Team

The government announced its decision to extend the production-linked incentive scheme for the automotive sector by one year, according to Mahendra Nath Pandey, Union Heavy Industries Minister. He mentioned that the five-year scheme, originally scheduled to be in effect from 2022-23 to 2026-27, will now remain active until 2027-28.

As of now, incentives are granted under the scheme for the confirmed sales of Advanced Automotive Technology (AAT) products (vehicles and components) produced in India starting from April 1, 2022, and will continue for a consecutive five-year period. "The scheme will be extended by one year," Pandey informed PTI after assessing the scheme's performance with stakeholders present.

The ministry had also approved other recommendations put forth by stakeholders in the auto industry concerning the scheme. This includes the quarterly disbursement of subsidies and the expansion of the number of agencies responsible for assessing domestic value addition from the current two to four.

"We anticipate that these measures will accelerate the implementation of the schemes," stated Pandey.

While delivering the keynote address at the review meeting, Pandey urged the industry to provide feedback and engage in collaborative efforts to shape the policies, procedures, and overall effectiveness of the PLI scheme.

Also read:
Real estate loans soar, reflecting strong demand
Table Space to expand with Rs 10 billion investment

Technology

29 Jul 2026

AI-Enabled Workflows Lift Profitability and Productivity

Organisations modernising frontline workflows with artificial intelligence, automation and real-time data are reporting stronger financial performance, higher productivity and improved employee engagement, according to a global study by Zebra Technologies and Oxford Economics.The research covered 1,000 senior leaders across retail, manufacturing, transportation and logistics in the US, Mexico, the UK, Germany, India, Japan, Australia and New Zealand.In transportation and logistics, 54 per cent of companies that improved picking and packing operations reported faster operational performance, wh..

India Leads Global AI Readiness but Implementation Lags

Indian companies lead global averages across all eight artificial intelligence readiness indicators tracked by JLL, but only 19 per cent have started making changes to their workplaces, according to the JLL 2026 Future of Work Survey.The study found that 77 per cent of Indian business leaders expect AI to change their office requirements, creating a 58-percentage-point gap between awareness and implementation. The survey covered more than 2,200 CEOs, CFOs and real estate leaders across 21 countries during the first quarter of 2026.Despite concerns over automation, 58 per cent of Indian leaders..

Three WOLFF Cranes Build Riyadh Cable-Stayed Bridges

Three WOLFF 180 B luffing jib cranes are supporting the construction of two cable-stayed bridges alongside the existing Wadi Laban Bridge in Riyadh, Saudi Arabia. The project is being developed for the Royal Commission for Riyadh City and executed by the ICRC joint venture comprising IC Ictas and Al Rashid Trading & Contracting Company.The cranes are handling lifting operations including formwork, reinforcement, concrete placement, work platforms, surveying equipment and other construction materials. Each crane is fitted with a 40 m jib, reaches a hook height of 157 m and offers a maximum ..