India's Automotive Mission Plan 2047: Aimed at Industrial Powerhouse

New Delhi, Oct 1 (PTI) Ministry of Heavy Industries is working with auto industry associations SIAM and ACMA on Automotive Mission Plan 2047, which will pave the way for India to become an advanced industrial power, a top official said on Tuesday.

Addressing an event to launch the PM E-DRIVE Scheme, Secretary in Ministry of Heavy Industries Kamran Rizvi said the PM E-BUS SEVA Payment Security Mechanism will also be rolled out shortly.

"PM E-DRIVE is not the terminal scheme. Another scheme of which we will hold the launch shortly is the PM E-BUS SEVA Payment Security Mechanism scheme," the secretary said.

He further said that the ministry in association with SIAM and ACMA is working on an "ambitious" Automotive Mission Plan (AMP) 2047.

"Some envisioning has to happen... Under this resurgent government, under India aspiring to be a superpower, AMP shall pave the way to make India a recognised advanced industrialised power," the secretary said.

The PM E-BUS SEVA Payment Security Mechanism, approved by the Union Cabinet last month with a budget of Rs 3,435 crore, will support deployment of more than 38,000 electric buses from FY 2024-25 to FY 2028-29.

The scheme will support the operation of e-buses for a period of up to 12 years from the date of deployment.