New Delhi: The Union Cabinet has approved the Production Linked Incentive (PLI) scheme for the auto industry, auto component industry and drone industry to enhance India's manufacturing capabilities, with a budgetary outlay of Rs 26,058 crore.

Union Minister Anurag Thakur said, "This PLI Scheme for auto sector along with the already launched PLI schemes for Advanced Chemistry Cell and Faster Adaption of Manufacturing of Electric Vehicles will benefit India in manufacturing new technologies, vehicles and components".

PLI Scheme for Automobile Industry and Drone Industry is part of the overall announcement of PLI Schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore. With the announcement of PLI Schemes for 13 sectors, minimum additional production in India is expected to be around Rs 37.5 lakh crore over 5 years and minimum expected additional employment over 5 years is nearly 1 crore.

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The Union Minister of Civil Aviation, Jyotiraditya Scindia, welcomed the Cabinet decision to boost the drones and drone component industry.

"The drone revolution continues to unfold at a speedy momentum, thanks to the sustained focus, push and quick action by PM Narendra Modi. I thank him, along with Union Finance Minister, Smt Nirmala Sitharaman for approving a 120-crore PLI Scheme for Drones and Drone Components," Scindia said.

"This amount (120 cr) is double the combined turnover of all domestic drone manufacturers in FY 2020-21. With the rollout of the Drone Rules 2021 and now a huge boost to drone manufacturing through PLI for Drones, the journey towards becoming a global drone hub by 2030 has begun!", he added.