Production Linked Incentive Scheme - Automobile and Auto Component Industry
15 Dec 2021Business Services
In September 2021, the Ministry of Heavy Industries (MHI) released the Production Linked Incentive (PLI) scheme for the automobile sector. The scheme was designed to bolster the growth of the local manufacturing ecosystem for advanced automotive products in India, along with the aim of creating a global auto manufacturing hub and manufacturing champions in the country. The scheme is expected to bring investments into the country amounting to over USD 5.6 billion over its tenure while creating employment for over 750,000 individuals.