Auto Sector - PLI Scheme Focuses On Advanced Technology: Motilal Oswal
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Motilal Oswal Report
The government has approved the production linked incentive scheme for the automobile industry with a focus on pre-approved advanced automotive technology vehicles and components (for all vehicles) – with total outlay of Rs 259.4 billion over the five years starting FY23.
The objective of this scheme is to develop local capabilities and capacities in advanced technologies for the automotive industry by incentivising the industry to make fresh investments.
The Ministry of Heavy Industry would determine the list of advanced technology vehicles and components and periodically evaluate them to factor in for technological changes.
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