The Govt. of India notified the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component sector on 23rd September 2021, and was open for receiving applications till 9th January 2022. A total 115 companies have filed applications seeking benefits under this PLI scheme.
Budget allotted for auto components sector under PLI scheme is ₹ 25,938 Crore.
The scheme is applicable on advanced automotive technology components of vehicles, completely knocked down (CKD)/semi- knocked down (SKD) kits*, vehicle components of two-wheelers, three-wheelers, passenger vehicles, commercial vehicles and tractors.
*A knock-down kit is a collection of parts required to assemble a product.