PLI scheme: 115 companies file for auto sector
PLI scheme: 115 companies file for auto sector

DELHI, NEW DELHI: According to the heavy industries ministry, 115 enterprises have applied for benefits under the production linked incentive (PLI) plan for the vehicle and auto component sector.

On September 23, 2021, the scheme was announced. The application period for the scheme lasted until January 9, 2022. From April 2022 onwards, incentives would be available under the scheme for determined sales of innovative automotive technology items (vehicles and components) manufactured in India for a period of five years. According to the government, "a total of 115 enterprises have filed their application under the PLI plan."

With a budgetary cost of Rs 25,938 crore, the sector's project was authorised. Its goal is to increase home production of these products. It also stated that 83 applications for the component champion reward system had been received. It's a'sales value linked' plan that applies to innovative automotive technology vehicle components, completely knocked down (CKD)/ semi knocked down (SKD) kits, 2-wheeler, 3-wheeler, passenger, commercial, and tractor aggregates. There are two parts to the PLI programme: the Champion OEM Incentive Scheme and the Component Champion Incentive Scheme.

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