Govt to Soon Launch Detailed Scheme to Offer PLI to Automotive and Component Manufacturers
3 years, 9 months ago

Govt to Soon Launch Detailed Scheme to Offer PLI to Automotive and Component Manufacturers

News 18  

The government will soon come out with detailed scheme to offer production linked incentive to automobile and auto components industry that will lay the roadmap and raise India’s bar as a global manufacturing hub. Under the Automotive Champion scheme, a company would qualify for PLI only if has a revenue of Rs 1000 crore from overseas operations, Rs 10,000 crore overall revenue and an global investment of Rs 3000 crore. Under the PLI scheme, four plans for the automotive sector have been proposed : sourcing incentive scheme, champion OEM incentive scheme, logistic cost linked incentive scheme, and component champion incentive scheme. Selected Automotive champions willl be eligible for a maximum of three of the four schemes and total incentive per company would be capped at Rs 8,556 crore.

History of this topic

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