new Delhi. The Government of India on Friday has finally selected more than 70 companies for the Auto Component Production Linked Incentive (PLI) scheme. The list of these companies selected for the PLI scheme includes companies like Maruti Suzuki, Toyota Components, Delphi TVS, Hella India, Dana Group, Bosch, Minda Industries, Tata Auto Components, Bharat Forge.
According to the report of CNBC-TV18, the government has also selected several companies from Germany, America, Netherlands, Japan, South Korea, France and Italy for this scheme. This election has been done for 103 auto components under the Champion Component Scheme.
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About 8 to 13 per cent of the components selected under the Auto Components PLI scheme are those related to safety items, flex fuel, CNG, LNG, emission control devices, passenger convenience, components to increase fuel efficiency and sensors. While 13-18 percent of these components are related to hydrogen and electrical vehicles.
Let us inform that before this, the Minister of Commerce and Industry Piyush Goyal had said on 7 March that initiatives like the announcement made in the budget and the PLI scheme have been taken to make India self-reliant and move forward on the path of sustainable development. On 11 February 2022, the government had approved the PLI scheme application of 12 applicants under the Champion OEM Incentive Scheme for Auto Mobile and Auto Mobile Component Industry. This included applications from Ford, Tata Motors, Suzuki, Hyundai, Kia and Mahindra & Mahindra.
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Speaking on the PLI scheme, on February 14, a high official of the Government of India had said that the PLI scheme for the auto mobile and auto component sector would generate 7.5 lakh employment opportunities in the country. With this, an additional production of Rs 2,31,500 crore will be possible in the next 5 years. Till 09 January 2022, 115 companies had filed applications for the PLI scheme of the auto and auto component sector. Let us inform that the notification related to the PLI scheme was issued in September last year.
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