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In India, the rise in diesel prices appears to be a major source of concern!

The diesel price has risen for the seventh day in a row last Tuesday. During an energy crisis that hit major economies hard, prices rose as a result of supply restraint by major producers. Gasoline prices in Karnataka and Kerala have now surpassed $100 per liter. As crude prices rose and the dollar gained strength in the international market, the rupee fell against the dollar, putting pressure on the domestic currency.

The government has approved a PLI scheme worth Rs 26.000 crore, industries of automobiles and drones The PLI scheme will encourage the development of advanced automated technologies in India’s global supply chain. Union Minister Anurag Thakur said on Wednesday that the Union Cabinet approved a Rs 26.058 crore production linked incentive (PLI) scheme for the auto, auto-components, and drone industries to improve India’s manufacturing capabilities.

The PLI scheme will encourage the development of a global supply chain for advanced automotive technologies in India.

After the Cabinet meeting, the minister told reporters that incentives worth Rs 26.058 crore would be given to the industry over five years.

According to Thakur, the PLI scheme for the automobile and auto components industry will result in new investment of over Rs 42.500 crore, incremental production of over Rs 2.3 lakh crore, and the creation of an additional 7.5 lakh jobs over five years. possibilities of a

The PLI scheme for the automobile and drug industries is part of a larger announcement of PLI schemes for 13 industries in the Union Budget 2021-22, with a total outlay of Rs 1.97 lakh crore.

Global Business Magazine

Global Business Magazine

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