Allocations for development of technologies for Automotive Sector
Ministry of Heavy Industries (MHI) has sanctioned Rs.326.14 crore for ‘Enhancement of Competitiveness in the Indian Capital Goods Sector – Phase 2’, to date.
It is implementing the Scheme for ‘Enhancement of Competitiveness in the Indian Capital Goods Sector – Phase 2’ in order to facilitate adoption of Industry 4.0 and to promote investments in manufacturing sector, indigenization of technologies and creation / augmentation of common service infrastructure / Testing facilities.
The Ministry has also allotted Rs.250 crores under the Scheme for Financial Year 2023-24.
This update was given by the Minister of State for Heavy Industries, Krishan Pal Gurjar, in a written reply in Lok Sabha on 19 Dec 2023.
The amount is being utilized by the Project Implementing Organizations for development of niche technologies related to Capital Goods and Automotive Sector, establishment of Common Engineering Facility Centres, Augmentation of existing Testing & Certification Facilities and Development of Qualification Packs for the Skill Level 6 and above.
MHI formulated Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II) Scheme for a period of five years commencing from 1 Apr 2019 with a total budgetary support of Rs.10,000 crores.
He said Rs.5,171.97 crores have been allocated under this Scheme for Financial Year 2023-24.
FAME India Phase II Scheme focuses on supporting electrification of public & shared transportation and creation of charging infrastructure.
A designated portion of budget is utilized for creating awareness and advocacy of EVs and advanced technology.
Under FAME India Phase II Scheme, subsidy amount to Rs.5,228 crore has been given to electric vehicle manufacturers on sale of 1,153,079 number of electric vehicles as on 1 Dec 2023.
A total of 148 EV Public Charging Stations (PCS) have been commissioned.
On 28 Mar 2023, MHI announced the sanction of Rs.800 crore under FAME II to the PSU Oil Marketing Companies (OMC) – Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Corporation Ltd. (BPCL), and Hindustan Petroleum Corporation Ltd. (HPCL) – for setting up 7,432 public fast charging stations across the country. Fiinews.com
