Auto Sector Biggest Success in Make In India Programme | CORPORATE ETHOS

Auto Sector Biggest Success in Make In India Programme

By: | June 13, 2018

Jun 13: Automobile sector has achieved the biggest success in Make in India programme and the country now has become a manufacturing base for global car makers. Automobile sector in India is one of the largest in the world accounting for 7.1% of GDP and nearly 22% of India’s manufacturing GDP.

Anant Gete ,Union Minister of Heavy Industries and Public Enterprises, said that major initiatives have been taken to promote hybrid and electric vehicles.

Faster Adoption Manufacturing of Hybrid And Electric Vehicles in India (FAME) which was launched in 2015 and is proposed to be implemented over a period of 6 years till 2020. Under FAME India scheme, 22 Original Equipment Manufacturers with 80 models are registered for availing demand incentive.  Till 31st March 2018, the Government has given financial support (demand incentive) to about 1,86,431 electric/hybrid vehicles amounting to Rs. 256.93 Crore.

The Minister informed that the Department has sanctioned nearly 500 electric buses across nine major cities with an expected cash outgo of approx. Rs. 280 crore. This will be a game changer in the public transport sector.