Govt releases Clarification on strategic restructuring of IDBI Bank Ltd. (See 'Corp Brief') NSIC presents dividend for FY 2025-26 (See 'Corp Brief') DoT leads Thematic Session on 'Intelligent Networks and Quantum Communication' at ESTIC 2026 (See 'Corp Brief') GeM reduces Transaction Charges to 0.30%, Raises Exemption Threshold to Rs 10 Lakh (See 'Corp Brief') Companies Act, 2013 - Pendency of challenge to a judgment before a Division Bench does not extinguish its binding force, where judgment is neither set aside nor stayed: HC (See 'Legal Desk') MoS highlights India's rise as a global co-creator in science and technology (See 'Corp Brief') MoS leads Indian delegation to Singapore International Energy Week 2026 (See 'Corp Brief') MoS felicitates Winners of Viksit Bharat Buildathon 2025 (See 'Corp Brief') Trade Marks Act, 1999 - Court's intervention is needed where the parties furnish affidavits making undertakings that effectively resolve the issues at hand: HC (See 'Legal Desk') DRI seizes around 55,000 e-cigarettes worth more than Rs. 13.5 crore (See 'Corp Brief') Insolvency and Bankruptcy Code, 2016 - CIRP merits being ordered in respect of an applicant when there is no reason to deny admission once the statutory requirements for initiation of CIRP by the Corporate Applicant, are satisfied: NCLT (See 'Legal Desk') Scientists engage with farmers in Delhi's rural areas under 'Khet Bachao Abhiyan' (See 'Corp Brief') Yadav calls for translating Global Biodiversity Commitments into Effective Implementation (See 'Corp Brief') Competition Act, 2002 - Allegations of anti-competitive agreements or of abuse of dominant position are tenable where no cogent evidence is furnished to bolster the allegations raised: CCI (See 'Legal Desk') Energy Technology Meet inaugurated in Goa, Highlights India's Energy Security Priorities (See 'Corp Brief') Discussions must lead to practical actions that cities can adopt: MoS (See 'Corp Brief') CARA organises Regional Consultative Workshop to expand Adoption of Children with Special Needs (See 'Corp Brief') ICAR-MGIFRI promotes Soil Health, Balanced Fertilisation and Sustainable Orchard Management (See 'Corp Brief') IPR - If well-known pharmaceutical mark with established goodwill & continuous use is sought to be diluted by subsequent user adopting coined expression sharing dominant prefix, case calls for interim injunction: HC (See 'Legal Desk') Bhupender Yadav emphasizes importance of Science-based Biodiversity Governance (See 'Corp Brief') PM Vishwakarma Artisans showcase Traditional Crafts at BRICS Cultural Bazar (See 'Corp Brief') Industrial Settlements benefit Over 10,900 Bihar Gramin Bank Employees (See 'Corp Brief') Startup Credit Guarantees reach Rs 1,662 Crore (See 'Corp Brief') IPR - Converting passing off action into infringement claim post-registration does not change basic structure of suit: HC (See 'Legal Desk') Nadda leads Integrity Pledge Ceremony at Ministry of Health and Family Welfare (See 'Corp Brief') RM calls for 'Aatmanirbharta 2.0', next leap in defence self-reliance, at SWAVLAMBAN 2026 (See 'Corp Brief') IBC - Admission u/s 7 IBC requires summary finding of debt & default above statutory threshold, and not exact reconciliation or forensic reconciliation of accounts: SC (See 'Legal Desk') MoRTH to organise 'Transport Mela' under PARIVARTAN Scheme in Delhi-NCR (See 'Corp Brief') NCB launches 'Operation Trident', with 38 teams striking 38 locations (See 'Corp Brief') NIFTEM-K hosts India's First AI × Food Tech Hackathon, 'Hack the Fork' (See 'Corp Brief') Misc - Administrator could neither assume RBI's write-down power at point of non-viability nor exercise it after reconstruction scheme took effect: SC (See 'Legal Desk') GeM promotes 'The AABHAR Collection' to showcase India's Cultural Heritage (See 'Corp Brief') National Conclave 2026: Technical sessions outline reforms for future-ready cities (See 'Corp Brief') PM's appeal has given a new identity to Khadi: KVIC Chairman (See 'Corp Brief') SARFAESI - Secured creditor stepping into shoes of borrower/lessee cannot claim rights superior to those of original lessee: HC (See 'Legal Desk') Three-day event 'India Chem-2026' concludes in Mumbai (See 'Corp Brief') Agricultural Biological Resources generate ABS Benefits for Biodiversity (See 'Corp Brief') BHASHINI Division showcases Multilingual AI Solutions for Accessible Research at IIT Delhi (See 'Corp Brief') Capital Market - Sec 12A of Commercial Courts Act is mandatory and strict condition precedent for maintaining commercial suit where no urgent interim relief is contemplated: HC (See 'Legal Desk') Fisheries Investors & Exporters Conclave 2026 to boost Investment and Exports from Inland Fisheries (See 'Corp Brief') India's First Maritime NBFC SMFCL scales up with Rs 5,107 Crs disbursed (See 'Corp Brief') India advances Agrivoltaics Cooperation for Global South (See 'Corp Brief') RTI - Information regarding public orders & ongoing court proceedings is already accessible in public domain - falls outside disclosure obligations of public authority under statute: SEBI (See 'Legal Desk') An unsuccessful 'success fee' litigation (See CORP EINSICHT)

Print

PLI Scheme for Automotive Sector a big success: Govt

Published: Jan 10, 2022

By TIOLCorplaws News Service

NEW DELHI, JAN 10, 2022: A total of 115 companies have filed their application under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India which was notified on 23rd September 2021. The scheme was open for receiving applications till 23:59:59 hours IST on 9th January 2022. Incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1st April 2022 onwards for a period of 5 consecutive years.

The Government has approved the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components Industry in India for Enhancing India's Manufacturing Capabilities for Advanced Automotive Products with a budgetary outlay of Rs.25,938 crore. The Production Linked Incentive (PLI) Scheme for Automobile and Auto components proposes financial incentives to boost domestic manufacturing of Advanced Automotive Technology products and attract investments in the automotive manufacturing value chain. Its prime objectives include overcoming cost disabilities, creating economies of scale and building a robust supply chain in areas of Advanced Automotive Technology products. It will also generate employment. This scheme will facilitate the Automobile Industry to move up the value chain into higher value-added products.

Following is the category-wise distribution of applications received:

Sl. No.

Primary Category

Number of Applications

1

Champion OEM (Except 2W & 3W)

13

2

Champion OEM (2W & 3W)

7

3

New Non-Automotive Investor (OEM) Company

9

4

Component Champion

83

5

New Non-Automotive Investor (Component) Company

3

 

Total

115

The PLI scheme for the auto sector will incentivize high value Advanced Automotive Technology vehicles and products. It will herald a new age in higher technology, more efficient and green automotive manufacturing. The PLI Scheme for the auto sector envisages to overcome the cost disabilities to the industry for manufacturing of Advanced Automotive Technology products in India. The incentive structure will encourage industry to make fresh investments in indigenous supply chain/ deep localization of AdvancedAutomotive Technology products.

The PLI Scheme for auto sector was open to existing automotive companies as well as new investors who are currently not in automobile or auto component manufacturing business. The scheme has two components viz Champion OEM Incentive Scheme and Component Champion Incentive Scheme. The Champion OEM Incentive scheme is a 'sales value linked' scheme, applicable on Battery ElectricVehicles and Hydrogen Fuel Cell Vehicles of all segments. The Component Champion Incentive schemeis a 'sales value linked' scheme, applicable on Advanced Automotive Technology components ofvehicles, Completely Knocked Down (CKD)/ Semi Knocked Down (SKD) kits, Vehicle aggregates of 2-Wheelers, 3-Wheelers, passenger vehicles, commercial vehicles and tractors, etc.

This PLI Scheme for automotive sector (Rs.25,938 crore) along with the already launched PLI scheme for Advanced Chemistry Cell (ACC) (Rs.18,100 crore) and Faster Adaption of Manufacturing of Electric Vehicles(FAME) (Rs.10,000 crore) will enable India to leapfrog from traditional fossil fuel based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system.

The PLI scheme for Automobile and Auto Component Industry has been a huge success in terms of the applications received from local as well as globally headquartered groups engaged in/ proposing to manufacture Advanced Automotive Technology vehicles/ products.

Industry has reposed its faith in India's stellar progress as a world class manufacturing destination which resonates strongly with Prime Minister's clarion call of AtmaNirbhar Bharat - a self-reliant India.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.