PLI Scheme for Automobile & Auto Components
On 24th September, 2021, the Government issued Notification regarding Production Linked Incentive (PLI) Scheme for Automobile & Auto components.
The scheme will be effective from financial year 2022-23 for five years and the base year for eligibility criteria would be 2019-20.
Objective
- Prime objectives include overcoming cost disabilities, creating economies of scale and building a robust supply chain in areas of advanced automotive technology products.
Need
- Auto is one of the most important sectors contributing 7.1 per cent to India's GDP.
- The sector has been under stress even before coronavirus hit India, and then subsequently has been hit hard due ....
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