Addressing the media in Chennai, Arun Goel, Secretary, Union Ministry of Heavy Industries, said that the country has seen investments of around $34.5 billion in the last five years.

It is estimated that over a period of five years, the PLI Scheme for automobile and auto components industry will lead to fresh investment of over Rs 42,500 crore, incremental production of over Rs 2.3 lakh crore

Energy efficient motors are gaining acceptance in India to confront with the global efficiency standards. This increasing awareness towards energy conservation combined with growing industrial infrastructure are driving the growth of the electric motors industry.