India's Automotive and Heavy Engineering Sectors See Major Growth
The Society of Indian Automobile Manufacturers reports that the automobile sector now contributes 15% to India's GST Revenue Collections. The sector creates significant employment with an estimated 30 million jobs. Significant schemes by the Ministry of Heavy Industries aim to improve electric vehicle production and advanced battery manufacturing. These include the Production Linked Incentive Scheme for Automobile and Auto Components, encouraging investment and enhancing domestic manufacturing capabilities.
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