Home Industry News PLI, FAME schemes driving India’s EV and heavy electrical equipment growth: Minister – ET Auto

PLI, FAME schemes driving India’s EV and heavy electrical equipment growth: Minister – ET Auto

by Autobayng News Team
0 comments
banner
pli,-fame-schemes-driving-india’s-ev-and-heavy-electrical-equipment-growth:-minister-–-et-auto

Union Minister for Heavy Industries and Steel, H.D. Kumaraswamy, chaired the Parliamentary Consultative Committee meeting of the Ministry of Heavy Industries on March 19, 2025, focusing on the manufacturing of heavy electrical equipment and the promotion of electric vehicles. The meeting was attended by Union Minister of State for Heavy Industries & Steel, Bhupathiraju Srinivasa Varma, senior officials, and committee members.

The discussions revolved around strategies to enhance domestic production of heavy electrical equipment and accelerate the adoption of electric vehicles to support India’s push for sustainable mobility and infrastructure development.

Manufacturing of heavy electrical equipment

Addressing the meeting, Kumaraswamy highlighted India’s industrial growth, stating that under the “Viksit Bharat 2047” vision, the country is positioning itself as a global manufacturing and export hub. “Manufacturing contributes 17% to GDP, playing a key role in economic growth, with engineering, capital goods, automotive, and renewables among the high-impact sectors,” he said.

The minister emphasized the role of the Ministry of Heavy Industries in creating a globally competitive, technology-driven, and sustainable heavy industry manufacturing sector. He pointed out that schemes such as the Enhancement of Competitiveness in the Indian Capital Goods Sector, FAME, and Production-Linked Incentive (PLI) schemes for automotive and advanced chemistry cells are key to strengthening domestic manufacturing.

Officials highlighted that the manufacturing sector employs over 27.3 million workers as of FY24, with government initiatives like “Make in India” and the PLI scheme accelerating growth. Bharat Heavy Electricals Limited (BHEL) was cited as a major contributor to power generation, transmission, and industrial solutions, with a growing focus on renewable energy, particularly solar and wind.

Push for electric mobility

Union Minister of State for Heavy Industries & Steel Bhupathiraju Srinivasa Varma underscored the significance of a globally competitive manufacturing sector in driving economic growth. “The Ministry of Heavy Industries has taken deliberate steps to ensure a seamless, sustainable, and inclusive transition to electric mobility,” he said, referring to initiatives such as FAME-II, PM E-DRIVE, and the PLI schemes.

The government’s efforts to promote EVs have led to over 19 lakh EV registrations in 2024, up from 15 lakh in 2023. The auto industry contributes 6.8% of GDP and generates approximately 30 million jobs, with policies aimed at bolstering domestic EV production and positioning India as a key player in the global market.

The Faster Adoption and Manufacturing of Electric Vehicles (FAME) Scheme has sanctioned over 7,400 electric buses, significantly improving urban mobility. The PLI scheme, with a Rs 25,938 crore outlay over five years, is enhancing India’s competitiveness in automobile manufacturing. The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SMEC) aims to attract investment from global EV manufacturers, while the PM E-DRIVE Scheme, with an allocation of Rs 10,900 crore, supports sustainable mobility.

banner

You may also like

Leave a Comment

About Us

Autobayng

Lorem ipsum dolor sit amet, consect etur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis..

Feature Posts

Newsletter

Subscribe to our Newsletter for new blog posts, tips & new photos. Let's stay updated!

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Adblock Detected

Please support us by disabling your AdBlocker extension from your browsers for our website.