MoS launches BIO-NIVESH to Catalyse Investment and Scale-Up of Biotechnology Innovations (See 'Corp Brief') NTPC Electron Quiz 2026-27 to be held in Mumbai (See 'Corp Brief') SUMAN Roadmap 2030 focuses on 13 High-Focus States to reduce Maternal and Newborn Deaths (See 'Corp Brief') Media Registration Open for SEMICON India 2026 (See 'Corp Brief') CCI directs IDBI Trusteeship, Axis Trustee and SBI CAP Trustee to cease and desist from anti-competitive conduct (See 'Corp Brief') Environment Minister reviews Coordinated Efforts by NCR States to tackle Air Pollution (See 'Corp Brief') CPC - Objection regarding pecuniary jurisdiction cannot be entertained at stage of final arguments when no such objection is raised by defendant at earliest opportunity or before settlement of issues: HC (See 'Legal Desk') Nadda inaugurates Centre for Advanced Bladder Diagnostics (See 'Corp Brief') NIELIT and Intel India launch Agentic AI Skilling Programs (See 'Corp Brief') IBC - IRP has contravened statutory mandate of IBC by omitting to maintain formal minutes of meetings & relying instead on informal email communications & where IRP omits to act strictly as per prior instructions of CoC: IBBI (See 'Legal Desk') BRICS Members reaffirm Commitment for Multilateral Cooperation in Intellectual Property (See 'Corp Brief') Digital India BHASHINI and Kathmandu Univ explore Collaboration in Language AI (See 'Corp Brief') IBCA, ADB sign MoU strengthening collaboration in Landscape Conservation (See 'Corp Brief') EPFO seeks applications from potential beneficiaries (See 'Corp Brief') IPR - For deciding territorial jurisdiction at inception of suit, if plaintiff's pleadings sufficiently allege that defendant has digital presence accessible, suit cannot be summarily thrown out for lack of jurisdiction: HC (See 'Legal Desk') CCI okays acquisition of up to 100% equity of Apollo Fertility & Apollo Specialty by Kids Clinic India (See 'Corp Brief') CCI approves acquisition of Aseem Infra Finance by TPG Nicobar SG (See 'Corp Brief') Ministry of Civil Aviation launches Hub & Spoke International Flight Operations (See 'Corp Brief') CAQM reviews Enforcement Actions (See 'Corp Brief') IBC - Definition of 'associate' u/s 79(2)(g) cannot be expanded beyond its statutory text, and procedural irregularities such as absence of forensic audit do not warrant rejection if no actual prejudice is demonstrated: NCLT (See 'Legal Desk') Wow! 7.8% growth but it also does not reveal many things! (See CORP EINSICHT) India, Germany sign Joint Declaration of Intent on environment conservation (See 'Corp Brief') IBC - If foreign decree from reciprocating territory remains substantially unsatisfied, and judgment debtor and his family exercise pervasive control over multiple business entities, decree holder is entitled to protection of its interest through appropriate security: SC LB (See 'Legal Desk') Advisor to PM reviews Development Initiatives at Belgaria and Karmatand Townships (See 'Corp Brief') Invest in R&D while fostering partnerships to become global enterprises: RM (See 'Corp Brief') SARFAESI - Attachment of entire subject property cannot be sustained in absence of material showing direct nexus between property & investors' funds involved in criminal proceedings: HC (See 'Legal Desk') Ministry of Coal Holds Preparatory Meeting for Special Campaign 6.0, Reaffirms Commitment to Cleanliness and Efficiency (See 'Corp Brief') PBPT - Per Section 2(26), initiating officer must establish that benami amount was either converted into another form or integrated into general business assets of beneficial owner beyond demarcation before attaching substitute properties: Tribunal (See 'Legal Desk') India must build Future-Ready Workforce for a Global Automotive Industry: Kumaraswamy (See 'Corp Brief') Union Minister to launch fisheries Infrastructure projects worth Rs 36.49 Crore (See 'Corp Brief') Nadda reviews Progress of Rural Health Training Centre, Najafgarh (See 'Corp Brief') IPR - If plaintiff holds registered trademark rights and shows prima facie prior adoption and use, defendant's use of identical mark for identical hospitality & restaurant services is sufficient to justify interim injunctive relief: HC (See 'Legal Desk') 4th Indo-German Environment Forum to be held in New Delhi (See 'Corp Brief') ICAR-IIOR to host Industry Interface to Accelerate Commercialization of Oilseed Technologies (See 'Corp Brief') A&C - Arbitral award immune to interference merely because alternative interpretation of facts or contractual terms exists; cannot be quashed where award is plausible, logical & free from patent illegality, perversity, or conflict with public policy: HC (See 'Legal Desk') Manohar Lal directs Fast-track Project Implementation & Strengthening of Swachhata (See 'Corp Brief') MSDE in collaboration with UP Govt organises PM-SETU Industry Conclave in Lucknow (See 'Corp Brief') MoS holds interaction with delegation of Armed Forces HQ Association (See 'Corp Brief') NBA disburses Rs 5.68 Crore in Benefit-Sharing Funds for Biodiversity Conservation (See 'Corp Brief') Commerce Secretary Rajesh Agrawal Leads 4th India-Argentina JTC Meeting (See 'Corp Brief') IBC - Sale certificate issued by liquidator under insolvency proceedings in respect of property sold by public auction is not compulsorily registrable: HC (See 'Legal Desk') CBN seizes 66.80 lakh psychotropic tablets in major inter-state pharmaceutical diversion case (See 'Corp Brief') Acquire knowledge, question injustice through constitutional means: RM tells youth (See 'Corp Brief') Empowering mother can enable early identification of disability in child: MoS (See 'Corp Brief') MoS lays Foundation Stone of PMGSY Roads Worth Rs 1,503 Crore in Jammu (See 'Corp Brief') Companies Act - Corporate name change is merely alteration of MoA that preserves company's continuous legal identity, rights, liabilities & obligations without creating a new entity or dissolving the old one: HC (See 'Legal Desk')

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