PLI Scheme for Automobile and Auto components

Brief

The government has introduced the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components Industry for Enhancing India’s Manufacturing Capabilities for Advanced Automotive Products. This scheme proposes financial incentives to boost domestic manufacturing of Advanced Automotive Technology products and attract investments in the automotive manufacturing value chain.

Eligibility

• For detailed information regarding eligibility, please refer to the guidelines document from the link below: https://www.indiafilings.com/learn/pli-scheme-for-automobile-and-auto-component-industry/#:~:text=Eligibility%20Criteria%20for%20Existing%20Company&text=Minimum%20Rs.,10%2C000%20crores.&text=Global%20Investment%20of%20Company%20or%20its%20Group%20Company%20in%20fixed,150%20crore

Fund / quantum

• Rupees 25,938 crore for a period of 5 years (FY2022-23 to FY2026-27)

Tenure

• FY2022-23 to FY2026-27

Benefit tags

• Cash Benefit Schemes

• The PLI scheme for the auto sector will incentivize high-value Advanced Automotive Technology vehicles and products.
• The PLI Scheme for the auto sector envisages overcoming the cost disabilities to the industry for manufacturing of Advanced Automotive Technology products in India.
• The incentive structure will encourage the industry to make fresh investments in indigenous supply chain deep localization of Advanced Automotive Technology products.

• For detailed information regarding eligibility, please refer to the guidelines document from the link below: https://www.indiafilings.com/learn/pli-scheme-for-automobile-and-auto-component-industry/#:~:text=Eligibility%20Criteria%20for%20Existing%20Company&text=Minimum%20Rs.,10%2C000%20crores.&text=Global%20Investment%20of%20Company%20or%20its%20Group%20Company%20in%20fixed,150%20crore

• Rupees 25,938 crore for a period of 5 years (FY2022-23 to FY2026-27)

• FY2022-23 to FY2026-27

Online / portal

Official application / information link: https://heavyindustries.gov.in

Source listing: https://www.startupindia.gov.in/content/sih/en/government-schemes.html