Centre releases SOPs under PLI scheme for auto sector

Top Stories

»	Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
»	Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
»	India and OPEC have a unique and symbiotic relationship: Hardeep Puri
»	SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
»	India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts

PIB | 27 Apr, 2023

The Ministry of Heavy Industries here today announced the release of SOPs under the PLI Auto scheme to testing agencies.

With this, the applicants under the scheme can now submit their applications for the testing and certification of AAT products (both OEMs and components), which will help them qualify for incentives under the PLI Auto scheme.

With this move, the Union Minister of Heavy Industries, Mahendra Nath Pandey, said that the Ministry is trying to align itself with the Prime Minister's vision of Aatmanirbhar Bharat, and these SOPs will not only help to achieve that but will also help to increase the manufacturing foothold. With this, the ministry aims to boost the domestic manufacturing sector and reduce dependence on imports, thereby creating more job opportunities for Indians.

The government is committed to promoting skill development and entrepreneurship in the country, and this initiative will help in achieving that goal. He also added that it would contribute to the overall economic growth of the nation.

The scheme is expected to attract significant investments and help India become a global hub for automobile manufacturing.

The Ministry of Heavy Industries (MHI) notified the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India (PLI-AUTO Scheme or the Scheme) on September 23, 2021, with a budgetary outlay of 25,938 crores.

The PLI-Auto Scheme proposes financial incentives to boost domestic manufacturing of advanced automotive technology (AAT) products and attract investments in the automotive manufacturing value chain. The scheme has two parts: Champion OEM, which will make electric or hydrogen-powered vehicles, and Component Champions, which will make high-value and high-tech components.

The key objectives of the Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components are to provide financial incentives to boost domestic manufacturing of advanced automotive technology products and attract investments in the automotive manufacturing value chain.