NEW DELHI: As many as 115 companies have filed applications to seek benefits under the production-linked-incentive (PLI) scheme for the automobile and auto component sector, the heavy industries ministry said on Monday. The scheme carries a budgetary outlay of Rs 25,938 crore, and aims at boosting domestic manufacturing of these products.
The scheme was notified on September 23 last year. Incentives are applicable under the scheme for determined sales of advanced automotive technology products (vehicles and components) manufactured in India from April 2022 onwards for five years. The PLI scheme has two components — Champion OEM Incentive Scheme and Component Champion Incentive Scheme.
