Auto industry quizzes heavy industries Secy Arun Goel on PLI Scheme
20 automobile manufacturers have been approved under the “Champion OEM Incentive Scheme” of the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Component Industry in India. To decode this scheme, CNBC-TV18 spoke to the Secretary for Heavy Industries Arun Goel, who has spearheaded the formulation of this scheme. Rakesh Sharma, Executive Director of Bajaj Auto; Sudhir Mehta, Chairman and MD of Pinnacle Industries; and Mahesh Babu, CEO of Switch Mobility.
Twenty automobile manufacturers have been approved under the “Champion OEM Incentive Scheme” of the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Component Industry in India.
The government has received proposals for investments to the tune of Rs 45,000 crore. OEMs can get incentives in the range of 13-18 percent on the basis of incremental sales and on fulfilling investment criteria over a five-year period.
The scheme is focused on incentivising the manufacturing of advanced automotive technologies, especially electric and hydrogen fuel cell vehicles. India's automotive industry can now take advantage of three schemes, the automotive PLI scheme, the ACC PLI scheme, and the ongoing FAME scheme.
To decode this scheme, CNBC-TV18 spoke to the Secretary for Heavy Industries Arun Goel, who has spearheaded the formulation of this scheme. Rakesh Sharma, Executive Director of Bajaj Auto; Sudhir Mehta, Chairman and MD of Pinnacle Industries; and Mahesh Babu, CEO of Switch Mobility.
For full interview, watch accompanying video.
Also Read: Auto PLI scheme: Govt expects Rs 45,000 crore investment over 5 years from 20 vehicle makers
First Published: Feb 14, 2022 6:30 PM IST
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