 "automobile, auto sales, car, equipment, manufacturing, component, production, jobs, workers")
The beleaguered auto sector which has been reeling from shock of a demand slowdown, welcomed the Performance Linked Incentive (PLI) push to the sector.
The maximum incentive of about Rs 57,000 crore was provided to the auto component and automobile sector, as compared to other sectors like advanced cell chemistry battery, pharma, food products, and white goods.
The Automobile Industry in India contributes 7.1 per cent to the country's GDP and around 49 per cent to India's manufacturing GDP as of 2019. It became the fifth-largest auto market in 2019 with sales reaching 3.81 million units. The automobile industry is
