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Nirmal Bang Report
We attended a panel discussion on the Indian automotive industry under the Production-Linked Incentive scheme where some noted industry experts discussed what they expect from the PLI scheme for the Auto sector. Below are the highlights -
The Government of India is planning to extend the PLI scheme under the Global Champion plan to 10 more key sectors, including automotive.
Given that the auto industry is one of the biggest contributors to gross domestic product (over 7%) and, goods and services tax collection (15-17%) besides creating over 30 million jobs in India, budget allocation to the auto sector under the PLI scheme is approximately 40% - one of the highest.
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